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Tether dominates the stablecoin market with a $171 billion market cap. They recently introduced the USA₮ stablecoin to compete with USDC under U.S. law. The GENIUS Act sets new regulations for stablecoins. USDC and USAT are expected to compete for market share in the coming years. Visa and PayPal are expanding stablecoin settlement options. Merchant adoption and policy regulations will shape the stablecoin market in the future.
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