The stablecoin market has surpassed $310 billion, marking a 70% growth over the past year, as it transitions from a trading tool to a fundamental digital cash layer. This expansion is driven by its integration into cross-border payments, decentralized finance (DeFi), and institutional finance sectors. USDT and USDC dominate the market, holding 80% of the total supply. Regulatory frameworks such as the EU's MiCA and the GENIUS Act are anticipated to influence the stablecoin landscape significantly. Projections suggest that the stablecoin supply could reach $2 trillion by 2028, underscoring the increasing importance of regulatory clarity in supporting this growth trajectory.