Stablecoin Recap Jul 13–20, 2026: USDS saw a $1.037 billion outflow during a stablecoin market contraction.

The total stablecoin market capitalization began the week at $304.6 billion and concluded at $303.06 billion, a decline of $1.55 billion or 0.51%. During the same period, the European Central Bank issued a warning that stablecoins might drain bank deposits.

USDE led the inflows with an increase of $0.134 billion. Ripple USD followed with a $0.097 billion gain, while Global Dollar added $0.069 billion. Sperax USD experienced the largest outflow, losing $1.037 billion. USDtb and USDC also saw declines of $0.273 billion and $0.207 billion, respectively. Visa launched a new stablecoin platform, and BitPay secured Dutch licensing under MiCA, planning to expand its stablecoin payment services.

USDT's market dominance ended at 60.8%, up 0.27 percentage points, while USDC's dominance slightly increased to 24.2%, up 0.06 percentage points. During the week, USD1 depegged, reaching a low of $1.068, 6.8% off its peg. The Financial Action Task Force, the inter-governmental body that sets global AML standards, urged faster enforcement of AML measures related to stablecoins. Concurrently, the US Treasury froze $131 million in wallets linked to Iran.

SBI, a Japanese financial services company, acquired the Singaporean platform Coinhako following approval from the Monetary Authority of Singapore. Additionally, Cathie Wood's ARK purchased another 220,000 shares of Circle. Meanwhile, PayPal's integration of AI with stablecoins was noted as a strategic move.

No directly relevant macro developments were recorded this week.