Stablecoin Recap Mar 23–29, 2026: USDC saw a $0.399 billion outflow as the total stablecoin market cap decreased by $0.04 billion.

The total stablecoin market capitalization began the week at $325.61 billion and ended at $325.57 billion, a slight decrease of $0.04 billion or 0.01%. During the same period, USDC experienced outflows, but the market remained relatively stable with minimal overall change.

SUSDS recorded the largest inflow, adding $0.184 billion. In the same period, Circle’s policy chief advised the UK to align MiCA clarity with US stablecoin rules. SYRUPUSDC and Savings USDD also saw gains, with inflows of $0.056 billion and $0.05 billion, respectively. USDC faced a $0.399 billion outflow. PayPal expanded its PYUSD stablecoin to users in 70 countries, yet PYUSD experienced a $0.069 billion outflow. IUSD, with the largest percentage loss of 33.0%, saw a decrease of $0.057 billion.

USDT's dominance ended at 56.6%, a slight increase of 0.04 percentage points. USDC's dominance fell by 0.12 percentage points to 24.2%. Two stablecoins, USD1 and USDL, experienced depegging events, with USD1 dropping to a low of 1.042, 4.2% off its peg, and USDL to 1.018, 1.8% off its peg. Regulatory discussions included Circle’s call for regulatory clarity between the UK and US.

In other developments, South Korea’s Hana Financial partnered with Standard Chartered on digital assets. Cari chose ZKsync’s Prividium as US regional banks entered the stablecoin market. Additionally, a Ledger executive commented on the potential impact of a US ban on stablecoin yield, suggesting other entities might fill the void.

No directly relevant macro developments were recorded this week.