Stablecoin markets consolidate, while new regulatory frameworks in the US and Hong Kong shape future adoption.
Stablecoin issuer Tether has collaborated with web browser provider Opera to increase access to digital dollars and tokenized gold through a feature called MiniPay wallet. The initiative adds support for Tether’s USDt (USDT) and Tether Gold (XAUT) to MiniPay, a self-custodial wallet built into Opera’s mobile browser and powered by the Celo blockchain.
Tether stated that the project will help people in developing economies, such as Africa, Latin America, and Southeast Asia, to save and transfer dollar-denominated stablecoins. According to Tether, the integration is intended to provide a simple way for mobile-first users to store and transfer stable value without complex onboarding requirements.
“Tether’s mission has always been to provide simple, reliable access to stable value for people who need it most,” said Tether’s CEO, Paolo Ardoino.
MiniPay operates in over 60 countries and claims 12.6 million activated wallets. The platform has processed about 350 million transactions so far and saw 50% growth in users in the fourth quarter, largely driven by adoption in emerging markets.
In December alone, more than $153 million was sent or received via MiniPay across all supported assets. Opera stated that the numbers point to increased demand for stable, dollar-based payments in mobile economies.
In addition to USDT, MiniPay now supports Tether Gold (XAUT), which is backed by physical gold reserves. Tether positioned the asset as a savings product meant to preserve value in inflation-prone environments. Interest in tokenized gold has increased as traditional bullion markets have grown. XAUT hit an all-time high of $5,600 in late January, following strength in spot gold prices.
The expansion of MiniPay comes as the broader stablecoin market enters a consolidation phase. Total stablecoin market capitalization is at $305.27 billion, down $3.006 billion from the previous week, or 0.98%. Despite the pullback, supply has remained close to record levels, following an expansion of approximately $120 billion in 2024.
USDT has held the dominant position, accounting for 60.65% of stablecoins in circulation. Other important tokens, such as USDC, DAI, and PayPal USD, are pegged to the dollar, which implies they are stable and not subject to systemic outflows.
Tether reported earlier this month that it generated over $10 billion in net profit in 2025 due to the increase of its USDT stablecoin and the holdings underlying those stablecoins, which are in U.S. Treasury assets. The company has been purchasing as much as $1 billion gold per month as it wagers on the precious metal alongside BTC.
Regulatory developments are also reshaping the sector. More recently, in the United States, Anchorage Digital launched a new stablecoin, USAT, under U.S. regulatory oversight following the passage of the GENIUS Act in July. In Asia, stablecoin issuer licenses are expected to be issued by Hong Kong in March. According to the Hong Kong Monetary Authority, it will approve only a few applicants at the outset.
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