Stablecoin Addresses Increase 15% in 2022, S&P Predicts Regulatory Clarity Could Bring Banks into the Market

The number of addresses holding stablecoins has increased by 15% this year, reaching a record high of over 93.6 million. Stablecoins are cryptocurrencies that are pegged to an external reference, such as the US dollar, and can be categorized as fiat-backed, crypto-backed, or algorithmic stablecoins. Tether (USDT) holders account for over 80% of the total stablecoin addresses, followed by USDC and BUSD. Regulatory clarity could encourage banks to adopt stablecoins, according to rating agency SP, and a recent bill on regulating stablecoins may offer banks a competitive advantage.