EconomyWhy APAC Is Winning the Stablecoin Race

Asia-Pacific is the world’s largest stablecoin payments market, accounting for more than half of identified global volume. USDT still makes up 91% of regional payment volume, down from 98% at the start of 2025, while Singapore, Hong Kong, Japan and Australia clarify rules and compliance-first options such as Ripple’s RLUSD gain ground. As stablecoins expand into payments, treasury and tokenized markets, liquidity may no longer suffice.