Stablecoins Enter Third Stage of Evolution, Says CoinDesk -- Market Talk

Dow Jones04-24

1247 ET - After a 2025 that resulted in a market capitalization of $308 billion and over $33 trillion in volume being transacted, stablecoins are seen as entering its next stage of growth, says analysts with CoinDesk Research in a report. CoinDesk says that stablecoins have gone from being a solution to allow swaps between currencies and becoming the backbone of DeFi applications to now what CoinDesk calls its "institutional era" - the deeper integration of stablecoins and blockchain technology into existing global financial systems. DeFi continues to be the source of over 48% of stablecoin activity in 2025, but centralized financial institutions like PayPal are handling an increasing amount of these transactions, nearly 25% in 2025. (kirk.maltais@wsj.com)

(END) Dow Jones Newswires

April 23, 2026 12:47 ET (16:47 GMT)

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CoinDesk says that stablecoins have gone from being a solution to allow swaps between currencies and becoming the backbone of DeFi applications to now what CoinDesk calls its \"institutional era\" - the deeper integration of stablecoins and blockchain technology into existing global financial systems. DeFi continues to be the source of over 48% of stablecoin activity in 2025, but centralized financial institutions like <a href=\"https://laohu8.com/S/PYPL\">PayPal</a> are handling an increasing amount of these transactions, nearly 25% in 2025. 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CoinDesk says that stablecoins have gone from being a solution to allow swaps between currencies and becoming the backbone of DeFi applications to now what CoinDesk calls its \"institutional era\" - the deeper integration of stablecoins and blockchain technology into existing global financial systems. DeFi continues to be the source of over 48% of stablecoin activity in 2025, but centralized financial institutions like <a href=\"https://laohu8.com/S/PYPL\">PayPal</a> are handling an increasing amount of these transactions, nearly 25% in 2025. 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