January was a successful month for stablecoins. Data shows that their on-chain volume went up to $308.7 billion compared to December when it was $178 billion.
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The largest share, about $199 billion belongs to Tether (USDT). It is a stablecoin pegged 1:1 to the U.S. dollar and operates across Ethereum, Tron, and different other blockchains. Next, come USD coin and DAI.On January 4, this year, the U. S. Federal regulator OCC (Office of the Comptroller of the Currency) validated the usage of stablecoins for transfers and operations for regulated banks. According to a letter published by the institution, financial establishments can take part as nodes on a blockchain and carry or authorize transfers.
Stablecoins offer a number of benefits. They have been becoming more and more popular, making progress in facing regulatory issues too.