AMINA Bank: The Balancing Act: How Stablecoins Hold Up the Crypto Economy

Markets have always leaned on anchors of stability to make trade possible. Whether it was gold in the past or the US Dollar today. Crypto, however, is notoriously unstable.

Back when crypto projects were racing to build the most decentralised, scalable and secure blockchains between 2017 and 2021, one company saw a different opportunity: enabling crypto trade through a stablecoin.

That company was Tether, and its rise has since become one of the defining stories of the industry. The scale of its annual profits has left the entire market stunned (for example, the company made a total net profit of $5.7 billion in H1 2025), sparking a rush where every player now wants a piece of the action.

The story of Tether and how every single entity in crypto is now vying for a share of their enormous gains is one for the books. Today, there are over 350 US dollar-based stablecoins, not including several highly anticipated stablecoin announcements coming up.

It’s easy to get lost or distracted by the sheer number of stablecoin announcements. This begs the question: why are there so many stablecoins and how will the landscape look like in the future?

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