Amberdata：2025年第一季度全球稳定币市场情报报告（英文版）

Welcome to Amberdata’s Q1 2025 Stablecoin Market Intelligence Report—a quarter shaped by evolving regulatory environments, strategic integrations, and shifts in institutional and retail adoption patterns. Early 2025 saw notable developments, from the U.S. executive order formally endorsing stablecoins as key financial instruments, to regulatory-driven changes under Europe’s MiCA framework prompting major exchange delistings. This period highlighted the dynamic roles stablecoins play as both s