The recent run-up in crypto prices has led to a surge in new issuances for stablecoins. It’s true especially for fiat-backed USD stablecoin projects. Despite the ongoing investigation into Tether’s questionable way of operating its business, USDT’s issuance since the beginning of April 1st (BTC at roughly $4000) has shown phenomenal growth of 40%. More recent US-based stablecoin projects such as TUSD and PAX have seen a significant increase in net new issuances over the same period. Circle/Coinbase backed USDC has seemingly benefited from Coinbase’s foray into over 50 new countries as the outstanding token quantity has increased by over 100 million in the last 50 days.