USD₮ strengthens digital dollar position: new standards, record liquidity

The stablecoin issuer reported a net profit of $5.2 billion for the second quarter, up 240% from last year's result. The coin's capitalization rose to $169 billion, recovering the drawdown that occurred in January due to short-term outflows. The number of active addresses grew by 18% and the average daily turnover approached $138 billion, surpassing many international settlement systems.

The updated reserves report showed $133.4 billion in Treasury bills and repos, $11.6 billion in certificates of deposit, $8.3 billion in gold and $4.7 billion in bitcoin, giving a liability coverage of 103.1%. Auditors first tested the instant asset tagging procedure that sends fresh issuances to a "tick-by-tick" report. This transparency has convinced hedge funds and family offices to increase the share of stablecoin in the cash equivalents basket.

The GENIUS Act, signed into law in July, enshrined a three-tiered regulatory model: a twice-monthly public report, a 3% Basel buffer, custody insurance, and from 2026, a ten-day liquidity stress test. In response, the company is creating a version of USD₮-R that will be traded only on U.S. licensed venues and backed by an account with the Federal Reserve through a partner bank.

The U.S. instant clearing repo market is estimated to be worth $1.6 trillion by December, and participants are ready to use USD₮-R as a zero-friction collateral pool. Pilot deals have already started to finance copper stockpiles, where delivery of the commodity and unlocking of the stablecoin take place in a single smart contract.

Emerging markets are setting the pace for global expansion. The Port of La Plata implemented payment of fees in USD₮, reducing vessel delays by almost a day. In Kenya, mobile wallet operators are integrating coin into USSD menus: farmers receive coffee advances in minutes and dealers purchase fertilizer without intermediaries.

Within the ecosystem, a technological twist is underway. After the launch of the Alloy protocol, swaps between USD₮, tokenized treasuries and bank depobonds take less than a second and require a $0.0004 fee. Company treasuries use the tool to mix short-term assets and earn a coupon without going into the classic bank circuit.

The Fed Funds rate is becoming a key driver of issuance. Each increase increases the coupon and stimulates the issuance of new batches of USD₮, and on a soft cycle the speed of circulation plays a major role. The stability of the coin is now determined not only by reserves, but also by how fast it moves through the network.

Exchange market makers are testing automatic rebalancing channels between USD₮ and liquidity on currency exchanges. The first measurements show latency no higher than 120 ms. If the project confirms a throughput capacity of 10,000 transactions per second, stablecoin will become a full-fledged gateway between the two financial systems, reducing differences in infrastructure to purely technical nuances.