Deepstory Research

Stablecoins & the GENIUS Act

Stablecoin market-cap growth, issuer share, transfer volume vs card networks, GENIUS Act compliance timeline, and reserve composition.

Curated snapshot Last updated: Aug 5, 2026 13 data points
Stablecoin market-cap growth

Stablecoin market-cap growth

Aggregate stablecoin supply by issuer, USD billions.

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Issuer market share over time

Issuer market share over time

USDT vs USDC vs others as a share of total supply.

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Monthly transfer volume vs card networks

Monthly transfer volume vs card networks

Stablecoin on-chain transfers vs Visa / Mastercard, USD trillions.

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GENIUS Act compliance timeline

GENIUS Act compliance timeline

Major deadlines from passage through full effect, days from today.

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Reserve composition by issuer

Reserve composition by issuer

Cash vs Treasury bills vs other assets, percentage of total backing.

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Data table

Stablecoins & the GENIUS Act — full data table
usdc usdt others series quarter source_ref value_basis usdc_pct usdt_pct others_pct visa month mastercard stablecoins milestone days_from_today issuer cash_pct other_pct treasury_pct
44 140 16 market_cap 2024-Q4 defillama-stables Total ~$200B end-2024 (DefiLlama/CoinGecko); USDT ~$140B, USDC ~$44B, others by deduction
73 175 36 market_cap 2025-Q3 coingecko-stables Total ~$284B Sep 2025 (record); USDT ~$175B, USDC ~$73B, others by deduction
78 188 57 market_cap 2026-Q2 defillama-stables Topics_Content/07_New_Trending_Topics_2026.md §1.5 — total ~$323B May 2026; USDT ~$188B, USDC ~$78B, others by deduction
issuer_share 2024-Q4 defillama-stables Shares from $140B / $44B / $16B of $200B (end-2024) 0.22 0.7 0.08
issuer_share 2025-Q3 coingecko-stables Shares from $175B / $73B / $36B of $284B (Sep 2025) 0.257 0.616 0.127

8 more rows + CSV download

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Methodology & sources

Last updated: Aug 5, 2026

Methodology

Source-backed values are seeded for all five charts: stablecoin market cap by issuer (2024 → 2026), issuer share over time, annual transfer volume vs card networks, the GENIUS Act compliance timeline, and reserve composition by issuer. Every numeric point carries a sources[].ref and a value_basis. Totals are from DefiLlama and CoinGecko; per-issuer figures from issuer data, with the "others" bucket by deduction (labeled). Reserve splits are from Tether’s BDO attestation and Circle’s reserve disclosures. CAVEAT: 2024 transfer volume (~$27.6T) exceeds Visa+Mastercard, but ~70% of stablecoin volume is bot/exchange activity rather than organic payments — noted on the chart’s value_basis. The GENIUS timeline is shown as days from 2026-06-16; each milestone’s absolute date is in its value_basis. Re-verified 2026-06-15.

Comparisons are informative, not definitive. See each source for definitions and limits.

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