Dollar tokens trail behind in usage, according to Zodia's latest data.

According to Zodia Markets' latest data, dollar-pegged tokens trail behind in usage, with a notable exception being stablecoins tied to the Turkish lira, which saw significant adoption among Standard Chartered's crypto subsidiary clients in 2023.

According to Zodia Markets, dollar-pegged tokens trailed behind in usage, with a notable exception being stablecoins tied to the Turkish lira, which saw significant adoption among Standard Chartered's crypto subsidiary clients last year.

Cryptocurrency derivatives tied to traditional currencies have seen significant growth in usage over the past few years, yet they remain largely confined to speculative markets rather than everyday transactions.

Zodia's data reveals that last year, the Turkish lira surprisingly took the second spot among stablecoins, surpassing expectations of major currencies like the euro or those from G10 countries. This unexpected trend was highlighted by Nick Philpott, co-founder and interim CEO of Zodia Markets, a company majority-owned by Standard Chartered.

European banks' plans to introduce euro-pegged stablecoins are met with skepticism by the European Central Bank, yet they're still set to be launched this year.

Geoff Kendrick, a crypto expert at Standard Chartered, notes that emerging markets with underdeveloped financial systems may see increased demand for stablecoins in the future.

Zodia's clients opted for a lira-pegged stablecoin as a substitute for traditional correspondent banking methods, Philpott revealed.

Stablecoins like TRY settled significantly quicker than others, boasting superior reliability and lower costs, prompting immediate liquidation upon receipt every single day.

Zodia's data for 2025 reveals a significant disparity in the usage of dollar-pegged stablecoins, totaling $110.5 billion, compared to lira-pegged at $3.4 billion.

Tether and Circle lead the pack in the stablecoin market, boasting $188 billion and $76 billion in circulation for their dollar-pegged tokens, a significant presence in the space.

According to a Bank of England policymaker, stablecoin demand might lose momentum by Sunday.

Stablecoins derivatives tied to traditional currencies have seen significant growth in usage over the past few years, yet they remain largely confined to speculative markets rather than everyday transactions.