European Central Bank Warns of Financial Stability Risks as Stablecoin Market Exceeds $280 Billion
The European Central Bank has warned of emerging financial stability risks linked to rapid stablecoin market expansion, despite limited euro-area adoption. The combined market capitalization of all stablecoins has surpassed $280 billion, representing approximately 8% of the total crypto-asset market, according to an ECB report published November 24, 2025. Tether (USDT) at $184 billion and USD Coin (USDC) at $75 billion dominate the sector, while euro-denominated stablecoins remain minimal at €395 million.