Stablecoin Recap May 4–11, 2026: USDG led inflows with $0.541 billion as total market cap rose $0.66 billion.

The total stablecoin market capitalization increased from $326.74 billion to $327.4 billion, an increase of $0.66 billion or 0.2%. During the same period, the Bank of England chief discussed global stablecoin rules, addressing international regulatory tensions.

USDG, Global Dollar, saw the largest inflow, adding $0.541 billion, a 21.7% increase. Augustus received conditional approval from the OCC for its AI and stablecoin bank. USDC followed with a $0.274 billion inflow, while sUSDS gained $0.153 billion. Ethena Staked USDe lost $0.15 billion, and Gauntlet USD Alpha decreased by $0.076 billion, a 98% decrease, with no specific issuer announcements.

USDT ended with a dominance of 57.9%, a slight decrease of 0.1 percentage points, while USDC's dominance rose by 0.04 percentage points to 23.7%. USD1 experienced a depeg, trading 3.2% off its peg at a low of $1.032. Tether froze over $500 million of USDT in 30 days, according to BlockSec data. Augustus's OCC approval pertains to AI and stablecoin banking. The ECB's Lagarde dismissed stablecoins' potential to strengthen the euro's global role.

Kraken's parent company, Payward, announced plans to acquire Reap in a $600 million deal to expand stablecoin payments. Exodus launched a stablecoin on Solana focusing on AI agents. Meanwhile, US Senator Elizabeth Warren demanded Meta disclose its stablecoin plans before the Clarity Act votes.

No directly relevant macro developments were recorded this week.