Stablecoin Supply Tops $300B as Binance Executive Touts Utility-Driven 2026

Seker’s comments come as Binance faces ongoing regulatory scrutiny in multiple jurisdictions, including the U.S. where the exchange settled with the DOJ and CFTC in 2023. The APAC director framed the regulatory push as a net positive for the industry. Clear rules in places like Hong Kong, Singapore and the UAE are drawing institutional capital that previously stayed on the sidelines, he said.

Critics offer a different view. Stablecoin growth has been concentrated in a handful of issuers. Tether and Circle control roughly 90% of the market, according to industry data. Regulatory fragmentation across the EU’s MiCA, U.S. state-level frameworks and Asia’s patchwork of licenses creates compliance costs that favor incumbents. Seker acknowledged the concentration risk. He said competition from bank-issued stablecoins and new entrants under MiCA will broaden the market over time.

The tokenization thesis also faces hurdles. Adoption has been slow outside of Treasury products and private credit, where the yield differential versus traditional markets is narrow. Seker said the next wave will come from equity and real estate tokenization. Those markets require deeper liquidity and standardized legal frameworks that most jurisdictions have not yet delivered.

Bitcoin traded around $85,000 this week, range-bound even as stablecoin supply expanded. Stablecoin growth has historically preceded bitcoin rallies, Seker noted. The current expansion may diverge, he said, with utility – settlement, payments, collateralization – rather than speculation driving the next cycle.