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 cover

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).
Download Report

More Featured Reports

Stablecoins & Tokenized Assets Report January 2026
CoinDesk Data’s Stablecoins & Tokenized Assets Report captures the key developments across the stablecoins and tokenization landscape. Our review focuses on market capitalization and trading volume trends for stablecoins, segmented by collateral type and pegged asset, alongside coverage of tokenized real-world assets; including commodities, equities, and treasuries.
  • February 10, 2026
Read more
Stablecoins & CBDCs Report - December 2025
The total stablecoin market resumed its upward trajectory after declining for the first time in 26 months in November, rising 1.25% to $310B. 
  • January 16, 2026
Read more
Exchange Review November 2025
CoinDesk Data’s Exchange Review offers a comprehensive monthly deep dive into the global cryptocurrency exchange market. Designed for investors, analysts, regulators, and enthusiasts alike, this report delivers critical insights into market movements—from spot and derivatives trading volumes to fee model segmentation and fiat-vs-crypto dynamics.
  • December 16, 2025
Read more
Stablecoins & CBDCs Report - November
CoinDesk Data's Stablecoins & CBDCs Report provides readers with a comprehensive analysis of the latest developments surrounding stablecoins and CBDCs, featuring data-driven insights into market capitalization, trading volumes, peg deviations, regulatory changes, and more.
  • November 26, 2025
  • Stablecoins Report
Read more

Subscribe to Our Newsletter

Get our latest research, reports and event news delivered straight to your inbox.