Stablecoin Supply Tops $284 Billion as Analysts Dispute Claims of Systemic Bank Risk

The global supply of fiat-backed stablecoins has climbed above $284 billion, intensifying debate over whether these tokens threaten bank deposits or enhance existing financial infrastructure. Historians, economists, and crypto industry leaders argue that stablecoin growth, shaped by recent U.S. legislation and dominated by USDT and USDC, has so far coincided with rising bank deposits instead of triggering outflows.