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The number of active stablecoin wallets has skyrocketed from 19.6 million in February 2024 to over 30 million by February 2025. These figures, based on research from Artemis and Dune, mark an impressive 53% year-over-year growth. According to analysts, stablecoins have firmly established themselves as the bridge between traditional finance and crypto in 2024.

Why Are Stablecoins So Popular?

Artemis and Dune attribute this stablecoin boom to growing institutional adoption and an increase in their use for payments.

Stablecoins are particularly valuable in countries battling high inflation. Take Turkey or Argentina, for example—where inflation rates exceed 10% per year. For residents in these economies, stablecoins present an attractive alternative to their rapidly devaluing national currencies.

Sure, Bitcoin is another option, but let’s be real—its volatility makes it a risky store of value for people who cannot afford short-term losses. One day you’re up, the next day you’re down 20%. For those who need stability, stablecoins are the clear winner.

Stablecoin Market Cap Jumps 63% in One Year

The total value of all stablecoins has surged 63% over the past year. In February 2024, the total stablecoin market cap stood at $138 billion. Fast forward to February 2025, and it has ballooned to $225 billion.

This trend is especially interesting for Bitcoin because of Tether’s massive influence. Tether, the issuer of USDT, reinvests at least 15% of its annual profits into Bitcoin. Bitcoin investors, take note! The growth of Tether indirectly benefits BTC holders, as the company continues pouring cash into the leading cryptocurrency.

Beyond market capitalization, stablecoin trading volumes have also exploded. In December 2024, trading volume hit a record-breaking $5.1 trillion before cooling off slightly in 2025. Over the past year, stablecoins facilitated $35 trillion in transactions—an insane number.

Stablecoins Are Booming—And Tether Wants to Prove Its Reserves

The stablecoin market is on fire, expanding relentlessly with no signs of slowing down. However, Tether, the largest stablecoin issuer, has been under scrutiny for years over concerns about its reserve transparency.

To silence critics, Tether is now considering a full-scale audit by one of the Big Four accounting firms—Deloitte, EY, PwC, or KPMG. CEO Paolo Ardoino confirmed this to Reuters, marking a potential turning point for the company.

Trump Administration Sparks a Shift in Regulation

According to Ardoino, this move isn’t random—it’s fueled by changing regulatory attitudes under President Donald Trump.

“We are now in a situation where this is actually possible,” said Ardoino.

Under Trump’s administration, crypto firms appear to be finding more common ground with traditional financial institutions. Just this week, Trump called on Congress to establish clear legislation for stablecoins during the Digital Asset Summit in New York.

Tether’s Longstanding Transparency Controversy

Since its launch in 2014, Tether has faced intense scrutiny. The company has always claimed that each USDT is fully backed by reserves, but critics have repeatedly questioned its transparency. Despite years of promises, Tether has never undergone a full-scale audit by a top-tier accounting firm.

With over $140 billion USDT in circulation, a Big Four audit could finally put the controversy to rest. Such a move wouldn’t just strengthen Tether’s credibility with regulators—it would also send a strong message to the entire crypto community, potentially ushering in a new era of stablecoin accountability.

New CFO to Lead the Audit

In a related move, Tether recently appointed Simon McWilliams as its new CFO, and his top priority seems to be leading the company’s financial oversight and coordinating the audit.

While CEO Paolo Ardoino has yet to disclose which firm will conduct the audit or when it will begin, one thing is clear: Tether wants to put years of skepticism behind it and redefine trust in the stablecoin industry.

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Roman B.

I have 6 years of writing experience on several leading websites dealing with cryptocurrencies and other investments. I have been in the Web3 sector for a similar amount of time and have collaborated on several projects from NFT to P2E. My previous experiences: Business2Community.com, TradingPlatforms.com, CryptoSvet.