Stablecoin Circulation Surpasses $250B as U.S. Senate Passes GENIUS Act

The total stablecoin supply in circulation has surpassed $250 billion, according to data published by Delphi Digital. USDT (issued by Tether) and USDC (issued by Circle) account for approximately 86% of this figure. Meanwhile, more than 10 other stablecoins each have a circulating volume exceeding $100 million.

Approximately $120 billion of the assets backing these stablecoins are held in U.S. Treasury securities, indicating a growing integration of stablecoins into the traditional financial system.

The U.S. Senate recently passed the “GENIUS Act,” a bill that establishes a regulatory framework for the issuance and use of stablecoins. It includes requirements for 1:1 reserves, monthly audits, and strict anti-money laundering compliance. The bill is now pending a vote in the House of Representatives.