OKX ranks second with $9 billion (13.5% market share), followed by Bybit with $4.2 billion (6.2%) and Coinbase with $2.6 billion (5%).
“Binance continues to lead the stablecoin market: by the end of August, its reserves hit a record $44.2 billion. The exchange holds 67% of all USDT and USDC on centralized platforms. Most of the funds are in USDT — $37.1 billion — but USDC is gradually regaining ground, now totaling $7.1 billion on Binance,” analysts noted.
Since the start of 2025, Binance’s stablecoin reserves have grown by 48%. Over the past 30 days alone, the exchange added $2.2 billion. OKX increased reserves by $800 million over the same period.
“The growth of stablecoin reserves on exchanges indicates rising liquidity and traders’ readiness for active participation. Such levels of reserves create favorable conditions for further market growth, as traders hold significant capital ready to be deployed into digital assets,” Binance representatives commented.
Earlier, FORECK.INFO reported that Paxos proposed launching USDH, the first stablecoin on Hyperliquid, backed by U.S. Treasuries and subject to community approval.
Earlier, Stripe CEO Patrick Collison outlined the key reasons why businesses are increasingly turning to stablecoins