Lessons From 9 Trailblazing Stablecoin Issuers
Table of Contents
Stablecoins have entered a new era. With the passage of the US GENIUS Act, onchain dollars now sit on firm legal ground, and institutions are gearing up to capture their share of the market. Total stablecoins in circulation have surged more than 50% since the law’s passage, and global leaders from J.P. Morgan to Deutsche Bank, PayPal, and Société Générale are rethinking how they issue, distribute, and regulate digital dollars.
From Tether’s market cap dominance to MakerDAO’s decentralized architecture and Ondo Finance’s RWA-backed yield structure, each issuer highlights how innovation, compliance, and liquidity are intersecting onchain.
Lessons From 9 Trailblazing Stablecoin Issuers traces that evolution, mapping the early stablecoin leaders shaping the market across every model — custodial, crypto-collateralized, algorithmic, and bank-integrated — and shows how regulatory clarity is accelerating both competition and convergence. The report explores:
- How the GENIUS Act is catalyzing global issuance models and compares to MiCA and MAS frameworks.
- How banks, fintechs, and protocols are converging on public blockchain infrastructure for settlement and liquidity.
- How different issuance archetypes, from fiat-backed to algorithmic, are evolving under new compliance expectations.
- What lessons new entrants can learn from the nine trailblazers that defined the market.
Complete the form to download the full report to see how early issuers helped shape regulation, interoperability, and design of onchain dollars.
