Payments & Liquidity

Federal Reserve Bank of Kansas City - What Are Stablecoins Used for Today? Estimating the Distribution of Stablecoins (Nov 2025)

Analyzes current stablecoin use by estimating how holdings are distributed across functions such as trading, payments, and savings. The paper helps clarify whether stablecoin activity is driven mainly by crypto market demand or broader financial use cases.

Topics: stablecoins, federal reserve, payments, crypto

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