The sUSDat stablecoin lost its dollar peg, falling by 7% to $0.93 on Wednesday, 3 June, according to blockchain analysts at PeckShield. On Thursday, the decline became even deeper: for a short time, the stablecoin dropped to $0.90.

Cryptocurrency investigator ZachXBT reported that two smart contracts linked to the European stablecoin issuer StablR may have been compromised. According to ZachXBT, the attack may have put approximately $10 million worth of EURR and USDR stablecoins at risk.

In a new report, JPMorgan Chase stated that tokenised money market funds still account for only around 5% of the total stablecoin market despite their ability to generate yield. The bank noted that participants in the cryptocurrency market continue to prefer stablecoins because they have become the primary monetary instrument of the ecosystem for trading, collateral management, settlements, cross-border payments, and liquidity management across centralised exchanges (CEXs) and decentralised finance (DeFi) protocols.

Japan’s Financial Services Agency (FSA) has formally approved new rules allowing foreign trust-type stablecoins to operate within the country’s national payment ecosystem. The amendments were published on 19 May 2026.

The share of stablecoins in the crypto market remains high even during periods of Bitcoin growth. Traders are increasingly taking profits and choosing not to re-enter risk assets. Just a few years ago, stablecoins were primarily used as temporary instruments. Funds were converted into USDT or USDC before trades and then quickly moved back into the market.

For a long time, stablecoins were seen purely as a tool for traders. Useful, but almost invisible. They served as a way to quickly enter and exit volatile assets without dealing with fiat. Essentially, they were just an intermediate layer of liquidity, not a standalone instrument.

The Ethereum Foundation has announced plans to convert 5,000 $ETH into stablecoins. The decision is aimed at ensuring stable funding for key areas of ecosystem development.

On Thursday, SoFi Technologies announced the launch of the SoFi Big Business Banking platform, which allows enterprises to deposit, transfer, and conduct transactions in both fiat and cryptocurrencies 24/7 through a single nationally licensed bank. SoFi Launches Big Business Banking with 24/7 Fiat and Crypto Transactions for U.S. Enterprises

Exchanges

Net stablecoin flows on Binance have turned positive again, which may indicate a shift in market liquidity conditions. Analyst Darkfost noted that the exchange, which consistently leads in crypto trading volume, has moved from outflows to inflows of $2.4 billion in stablecoins.

Financial regulators in South Korea are preparing new rules that will allow public companies to invest in cryptocurrencies, although dollar-pegged stablecoins may be excluded from the list of permitted assets. This concerns $USDT and $USDC, which are widely used in international settlements.

The Florida Senate unanimously approved the first U.S. state-level bill regulating the use of stablecoins. The document must be signed by the governor within 30 days.

The growth of USD1 was driven by an application from World Liberty Financial to establish a trust bank, filed with the U.S. Office of the Comptroller of the Currency (OCC). If the application is approved, the company will be able to issue, redeem, convert, and custody USD1 under federal supervision.

Cryptocurrency tokens pegged to the U.S. dollar could cause an outflow of around $500 billion in deposits from American banks by the end of 2028, Reuters reports, citing calculations by Standard Chartered. This forecast could intensify the confrontation between the banking sector and crypto companies over legislation regulating digital assets.

The issuer of Tether (USDT), the company Tether, freezes stablecoins far more often than Circle, the firm that issues USD Coin (USDC).

At the BCVC 2025 event held at the Harvard Club of New York, Miran described stablecoins as a “multi-trillion-dollar problem for central banks” and said he expects a massive outflow of funds from banks if large volumes of capital are quickly moved between banks and stablecoin issuers.

Venezuela is currently developing a system that will bridge traditional banking with blockchain technology.