They account for approximately 60% to 75% of the total daily revenue of protocols in the main categories.

Tether CEO Paolo Ardoino even stated that the company expects to make a profit of $15 billion this year and achieve an incredible margin of 99%. This will make it one of the most profitable enterprises in the world per employee.

Stablecoins have become the main source of cryptocurrency liquidity and are used on exchanges, in decentralized financial systems and cross-border payment systems. And their issuers earn interest on the assets that provide their tokens. Companies like Tether and Circle invest user funds in safe income-generating assets, mainly in U.S. Treasury bonds and cash, and keep the profits for themselves rather than sharing them with users.

The American GENIUS Act, passed in July, reinforces this principle by prohibiting authorized issuers of stablecoins from distributing any profits among holders. Nevertheless, the growing competition in the sector is forcing some projects to experiment with different forms of initial cost allocation. For example, users who store USDC on Coinbase can receive 3.85% per annum.