Stablecoin market cap hits record $322B, topping reserves of 95 nations

The total market capitalization of stablecoins has surpassed $322 billion, reaching a new all-time high, CoinDesk reported. This figure now exceeds the foreign exchange reserves of 95 countries worldwide. The outlet noted that the value of stablecoins held by users outside the traditional banking system is greater than the reserves of nations including developed countries like the UK and Canada, as well as the oil-producing United Arab Emirates. CoinDesk described this trend as an indicator of how rapidly capital is shifting to digital financial rails.