Stablecoins & CBDCs Report

Gain insight into the latest developments in the stablecoin and CBDC sector, focusing on analysis that relates to market capitalization, trading volume and more.

  • September 21, 2023
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Stablecoins & CBDCs Report

Gain insight into the latest developments in the stablecoin and CBDC sector, focusing on analysis that relates to market capitalization, trading volume and more.

  • September 21, 2023

Report Summary

The total stablecoin market cap continued to decrease in September, recording its 18th consecutive month of decline, falling 0.63% to $124bn. This is the lowest stablecoin market cap recorded since August 2021.

Key Takeaways

  • The trading volumes for PYUSD trading pairs on centralised exchanges totalled $8.46mn in September (as of the 18th).
  • Binance announced that the exchange will gradually end support for BUSD by February 2024. The stablecoin has seen its market cap decline for the 10th consecutive month, falling 19.1% to $2.49bn in September.
  • The FDUSD stablecoin seems to be the largest beneficiary from BUSD’s gradual delisting, trading $4.61bn in September (as of the 18th).
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