Stablecoins now settle $200 B+ weekly—outpacing Visa’s on‑chain volume. Yet 2025 sees fresh trends:

  1. Multi‑currency Buckets – EURx, JPYx, and INRx onchain for global payroll.
  2. Yield‑Bearing Models – USDe, sDAI pay holders T‑Bill‑like yields (SEC scrutiny pending).
  3. Fiat‑Plus Collateral – Blend of cash, short‑dated Treasuries, and tokenized RWAs.
  4. Compliance Layers – Blacklists, wallet whitelisting, travel‑rule metadata.

Key Question: Will CBDCs crowd out private stables?
Consensus: Coexistence, with private tokens focusing on UX and programmability.

Action Items for Builders

  • Integrate Chainlink CCIP or LayerZero for cross‑chain stable routing.
  • Offer opt‑in KYC flows—regulators love optionality.
  • Keep attestation proofs public—transparency sells.