稳定币用户突破5亿里程碑，XBIT等基础设施建设加速发展

Core Insights - The global stablecoin market is experiencing significant developments in November, with regulatory frameworks becoming more robust and market applications expanding [1] - Federal Reserve officials have indicated that the surge in stablecoin demand could have profound implications for U.S. monetary policy, potentially leading to a reduction in neutral interest rates [3] - The UK has made notable progress in stablecoin regulation, with the Bank of England proposing a regulatory framework for systemic stablecoins pegged to the British pound [4] Regulatory Developments - The Federal Reserve's Stephen Miran highlighted that stablecoin adoption could lower the net supply of loanable funds, impacting monetary policy [3] - The UK’s Bank of England has introduced a temporary holding limit mechanism for stablecoins, with individual limits set at £20,000 and corporate limits at £10 million [4] - The U.S. Senate has passed the GENIUS Act, establishing a federal framework for stablecoin issuance, requiring issuers to hold cash or U.S. Treasury securities as reserves [7] Market Growth and Innovations - The stablecoin market is projected to grow by $1 trillion to $3 trillion in the coming years, significantly impacting the market given the current U.S. Treasury securities total of less than $7 trillion [3] - JPYC has launched the first fully regulated yen-pegged stablecoin, aiming to issue ¥10 trillion (approximately $649 billion) over three years, providing a local digital currency option in Asia [5] - Over 15 stablecoin infrastructure companies secured funding in October, with Tempo raising $500 million, indicating a vibrant investment landscape [7] User Adoption and Market Dynamics - Tether's USDT has surpassed 500 million users, marking a significant achievement in financial inclusion and reflecting strong demand for stable digital trading tools [7] - Current major stablecoins like USDT, USDC, and USDe account for nearly 3% of the total cryptocurrency market capitalization, indicating traders are accumulating liquidity [9] - The stablecoin supply is expected to surge to $1 trillion by the end of 2025, influencing cross-border transfers and decentralized finance protocols [9]