Standard Chartered estimates the stablecoin market will reach $2 trillion by 2030. Tether, USDC and Open USD are three stablecoins investors need to know, and their reserves differ in risk.
Standard Chartered estimates the stablecoin market will reach a total value of $2 trillion by 2030, according to an Oct. 14 report. That deadline is two years later than the bank's first forecast for the same figure.
The market is already large. Stablecoins were worth a hair over $299.2 billion as of Oct. 28, up from $131.9 billion five years ago.
Tether holds 60.8% of stablecoin value
Tether's stablecoin had a market cap of $182.3 billion as of Oct. 28, or 60.8% of all stablecoin value. Its reserves are slightly riskier than those of its peers, per the article.
Tether's attestation shows $114.9 billion in Treasury bills, $18.8 billion in gold, $5.8 billion in Bitcoin, and $13.5 billion in secured loans. When gold and Bitcoin declined at the same time, Tether's excess-reserve cushion fell by half to $4.1 billion. Tether keeps the interest on its reserves, booking about $1.5 billion in Q2 2026 operating profit.
USDC reserves are mostly in a money market fund
Circle Internet Group issues USDC, the second-largest stablecoin, with $71.2 billion in circulation and a 23.7% market share. About 84% of its reserves were held in the Circle Reserve Fund as of June 30, per Circle's 10-Q filing, with the remainder in liquid cash.
USDC has still slipped off its peg before. Its value fell to $0.88 in March 2023 after Circle disclosed $3.3 billion of reserves held at the then-failing Silicon Valley Bank.
Circle's reserves yielded 3.5% in Q2 2026. Coinbase collects about half of USDC's reserve income as a distribution partner.
Open USD launched Sept. 30
Open USD is the newest major stablecoin, launching on Sept. 30, with only $835 million in circulation. Bridge, owned by Stripe, issues the coin, and many financial institutions and businesses distribute it, each earning a cut of reserve income based on how many coins it mints.
Source: The Motley Fool
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