The GENIUS Act passed in the US in 2025 was a major milestone for stablecoin regulation

The first stablecoin pegged to the US dollar launched in 2014

That coin was Tether, also known as USDT. Other key dates in stablecoin history include Circle's launch of USDC in 2018, and, more recently, President Donald Trump's signing of the GENIUS Act in 2025.

Collaterized by crypto, BitUSD is considered the first stablecoin

It was created in 2014 with the intention of making cryptocurrency less volatile. While BitUSD lost its peg to the US dollar in 2018 and never recovered, Tether was created soon after it in 2014 and has had more longevity and success.

Stablecoins' market cap surged during 2021's crypto bull market

In 2020, the value of all stablecoins was equivalent to just 1% of all physical US dollars. Roughly five years later in August 2025, that value had jumped to roughly 11% of all US cash in circulation.

Learn how stablecoins function in just 4 minutes

This video explains the basics of stablecoins in a beginner-friendly manner. It also dives a bit deeper into the larger stablecoin landscape, detailing, for instance, the many stablecoins backed by fiat currency other than the US dollar, like the euro, the Turkish lira, and the Singapore dollar.

Some argue that stablecoins are unnecessary due to the ubiquity of the US dollar

Others have criticized fiat-backed stablecoins for their lack of decentralization, believing that digital currencies not controlled by central banks will become more popular in the future.

The stablecoin market increased tenfold from 2020 to 2025

Specifically, the stablecoin market grew from about $28B in 2020 to $282B in 2025. Some experts forecast that it could grow anywhere from 6.7x to 14.2x by 2030.

Stablecoins now transfer more value than Visa or Mastercard.

Because stablecoins operate on public blockchains, transfers can occur nearly instantly without intermediaries, unlike traditional credit card networks. This has fueled stablecoins' adoption within the crypto world and in cross-border payments. Stablecoin transfer volume rose from about $3B in 2018 to roughly $18T in 2024, overtaking Visa's roughly $16T and Mastercard's $10T.

Stablecoins could give people in high-inflation economies access to stronger currencies

Specifically, stablecoins could provide a way to make sure these funds remain valuable during times of volatility. Some examples of people without access to the US dollar using stablecoins as a store of value have been observed in Venezuela.

The world's largest stablecoins by market cap

The largest stablecoin by market cap, Tether (USDT), as well as the second largest, USDC, are both pegged to the US dollar. As of April 2026, Tether had a roughly $184B market cap.

The US dollar is the official currency of the United States and is the most circulated currency around the world

The US dollar was established in 1792 and comes in the form of coins or paper money. It's considered one of (if not the most) stable currencies in the world due to America’s strong and robust economy, as well as its relatively stable government.

In 1792, Congress established the first national mint to produce all the coins in the US

At the same time, the US also started producing the dollar, its first official currency. The US Mint has since issued coins throughout the country.

The different types of stablecoins include algorithmic stablecoins

In addition to fiat-backed stablecoins, commodity-backed stablecoins, and cryptocurrency-backed stablecoins, algorithmic stablecoins use smart contract-based mechanisms to maintain a stable value by responding to supply and demand.

USDC's reserves were held at Silicon Valley Bank when the bank collapsed

One of the world's largest stablecoin's reserves were held at Silicon Valley Bank, which famously failed in March 2023. USDC briefly lost its peg to the US dollar for a time as a result, within investors pulling out billions of dollars.

Minting a coin that can pay off the federal debt has been proposed as a quick fix to rampant borrowing.

The platinum coin, explained by the creator of the idea

An obscure US Mint law permitting it to create platinum coins of any amount surfaced as a possible means of quickly paying down the national debt. Here's an explanation from the creator of the idea.

Stablecoins like USDC are backed by real assets including US Treasurys and cash

While Tether (USDT) is primarily backed by US Treasury bills (64.9%), USDC is mostly backed by US Treasury repurchase agreements (49.6%). USDC also goes by the name Circle, given that it is owned by the company Circle Internet Financial.

TerraUSD offers a cautionary tale of stablecoin use

This stablecoin was completely wiped out in May 2022, losing investors roughly $40B in value, when its linked support token, LUNA, collapsed in value, triggering a spiral that wiped out the dollar peg and left both tokens essentially worthless within days. TerraUSD's creator was sentenced to 15 years in prison in 2025. (Some users may experience a paywall.)

How US currency is issued

Cash in the US is the result of a collaborative process between the Federal Reserve, the Treasury Department, regional banks, and a little-known agency called the Bureau of Engraving and Printing. From design to issuance, learn the steps in currency production in the US with this smart, aesthetic interactive.

The trillion-dollar coin is a proposed platinum coin with a face value of $1T, which could be used to reduce the national debt

This conceptual strategy was first proposed in 2011 as a potential alternative to raising the US debt ceiling. Although there were several high-profile proponents of the idea, it was eventually rejected in 2013 by Treasury Department and Federal Reserve officials.

A gold standard is a system where every dollar in circulation can be exchanged for a set amount of gold

For centuries, the things people used as money had intrinsic value, such as precious metals like gold. In medieval Italy, giant wheels of parmesan cheese were once used as a store of value.

A gold standard is a system in which a country’s currency is pegged to, and can be converted into, a fixed amount of gold

In principle, this provides price stability as the amount of gold (and therefore the value of the currency) is limited, but also restricts the ability to modulate the money supply during economic downturns.

The US dollar became the world's reserve currency, backed by gold, after 44 nations gathered in Bretton Woods, New Hampshire, in 1944 with the intention of rebuilding the global economy.

In 2019, Congress passed the Secure Act to reform key aspects of the US tax code

Key Secure Act provisions included raising the age at which mandatory distributions take effect (to increase saving), allowing larger catch-up contributions for older individuals, and allowing employers to directly match contributions in a Roth 401(k).

The US has used a wide variety of different currencies between the 1690s and today

From colonial money to national banknotes, people have used all kinds of forms of currency throughout the history of the United States before settling on the dollar bills and quarters that we pay for things with today.

The global economy runs on US dollars, with nearly 90% of international trade in 2019 being processed in US dollars.

Watch former Securities and Exchange Commission Chair Gary Gensler's 'Eras Tour' for the agency's 90th anniversary, a look back on the pivotal moments in the agency's history.

The US FDA recently tried to regulate the expanded prenatal genetic tests

The agency proposed a new rule in 2023 to make it explicit that these types of tests are devices under existing law and clarify that that the agency could move to regulate them. They finalized a regulatory change in 2024 that added the words "including when the manufacturer of these products is a laboratory" to an existing law, but a federal district court vacated that edit in March 2025—returning the law to as it was before.

During the Civil War, the US government printed paper money for the first time

Those original paper bills were called “greenbacks” or “demand notes.” Since then, paper money has evolved with different designs, names, and values. Today, it is solely issued by the Bureau of Engraving & Printing.

DAI is a popular stablecoin backed by cryptocurrency rather than fiat currency

DAI is backed by collateralized debt denominated in several major cryptocurrencies, including ethereum's ether. It was created by Rune Christensen in 2017 with the goal of helping create a credit system that would allow users to take out loans collateralized by cryptocurrencies.

The SEC recently approved bitcoin ETFs in landmark investing decision

In January 2024, the US Securities and Exchange Commission made history when it decided to allow fund issuers to launch bitcoin ETFs. This new class of exchange-traded fund tracks spot bitcoin prices, essentially allowing investors to hold bitcoin without actually having to buy the crypto.

The Secret Service was originally formed to combat counterfeiting

By the 1860s, an estimated one-third of US currency in circulation was counterfeit. In 1865, the Secret Service was created specifically to combat the country's serious counterfeiting problem, which had led to widespread financial instability. This was partly due to the lack of federal currency standardization in the country at the time.

Throughout most of the 1800s, US currency was backed by silver and gold

In post-Civil War America, the government moved to use only the gold standard. This was how US currency was backed for decades in the US. You can read a comprehensive explainer on the gold standard and its history in the US to learn more.

The history of bankruptcy in the US dates back to the signing of the Constitution

In 1787, this founding document gave Congress the right to establish nationwide bankruptcy laws. Legislators took advantage of that power in 1800 when they passed the Bankruptcy Act of 1800, the first comprehensive bankruptcy law at the federal level.

The US Mint created a video to show kids how coins are made

The video, made simple for children (or anyone who wants an easy-to-understand 101 video about the process coins go through to get in your wallet), outlines the entire process that a coin goes through in its lifetime, from Congress voting on new coins, to how coins are stamped, to their journey to a Reserve Bank.

The Glass-Steagall Act separated commercial banks in the US from investment banks

In 1933, the Glass-Steagall Act legally separated commercial banks in the US from investment banks. However, by 1999, the act was repealed—meaning that today’s investment banks are no longer required to be separate from the type of bank where you deposit your paycheck.

The designs on US coins have changed a lot over the years

From states producing and issuing their own coins after the Revolutionary War, to collectors’ coins in modern times, US coins have had many design changes throughout history. You can learn about the different variations, plus what design elements are added to all US coins today, in an article.

How AI is revolutionizing banking

Generative artificial intelligence has left no industry untouched, and banking isn’t an exception. Experts estimate that gen AI could add as much as $340B in value to the banking sector each year. For consumers, this involves new features to prevent fraud and customer service chatbots. This report dives into the revolution underway and seeks to define a “full stack” AI bank of the future. Read more here.

In 2026, the FDA proposed a novel approach to expedite reviews of gene therapies for patients with rare genetic disorders such as cystic fibrosis, potentially bypassing the need for years-long clinical trials if approved.

British economist John Maynard Keynes originally proposed a global currency called the bancor.

The Federal Reserve is the most powerful financial institution in the US

The Fed controls the money supply, determines interest rates, and regulates the banking system. Established in 1913 after a volatile series of financial panics, the central bank has managed to retain its legitimacy despite broad critiques against its obscure and independent decision process.

The US Currency Education Program created a guide to authenticating currency

This video was created to teach everyday people a few easy ways to spot some counterfeit banknotes. Specifically, it outlines the main security features to check for that are common across many US banknotes, such as the color-shifting ink visible when tiling US banknotes $10 or higher.

The process of electronic funds transfer was approved in the US in 1978

An electronic funds transfer is the transfering of money from one bank account to another via computer-based systems. When it was first introduced, it was revolutionary. A video from 1980 aimed to explain the value of electronic funds transfer to consumers at the time.

Connecticut recently became the first state to create and launch a baby bond program, a government-funded savings or investment account that is seeded when a child is born.

Before the US Mint, people made currency in private mints

Around the year 1652, New England coinage was created at private mints. Historically, private mints were often located in places where governments did not meet the demand for currency. This article dives into the history of private mints, including the ones people can still visit today.

Today, in the US, people can face years in prison for counterfeiting money

There are both federal and state laws that punish people who use or create counterfeit money. The crime can not only trigger hefty fines, but could also lead to decades behind bars.

American Express is targeting Gen Z, who are generally less risk-averse than older generations

Unlike Millennials, who grew up during the Great Recession in 2008, Gen Z has a higher risk appetite and has grown up with more gamified spending platforms, like online gambling and prediction markets. Analysts say Gen Z's risk appetite makes them prime targets for credit card companies like American Express that can sell younger customers on large benefits in exchange for annual fees.

The US debt ceiling is the threshold Congress sets for federal borrowing.

A rundown of some of the wildest new tech inventions around the world

The US Patent Office approves roughly 300,000 new patents every year. Among these are some fascinating tech inventions, from high-profile robots and automated bike garages to kaleidoscopic shelves and laser-projected directions for scooters. Check...

US IPO issuance—the total dollar amount of new stock sold to the public via IPOs—hit a record high in 2026.

Technologies labeled “AI” have historically lost that title after widespread adoption

Generative AI is the latest entry in a recurring cycle where emerging tools start as "AI" until they become common software, like databases or machine learning. Generative AI and large language models may be the next platform shift after smartphones and the Web.