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Join us and make a move that matters",{"url":175,"target":11},true,{"__typename":650,"siteName":651,"uri":652,"id":653,"title":654,"url":655,"postDate":656,"dateUpdated":657,"slug":658,"sectionHandle":659,"ancestors":660,"authorSelect":661,"asset":675,"categoryTopics":685,"categoryNewsTypes":689,"categoryIndustries":690,"categoryRegions":691,"seo":692,"articleContentArea":701,"faqs":710,"articleSelect":711,"plainText":11,"plainText2":11,"buttonLink":845},"article_Entry","Elliptic","blockchain-basics\u002Fwhat-is-a-stablecoin-depeg","138100","What is a stablecoin depeg?","https:\u002F\u002Fwww.elliptic.co\u002Fblockchain-basics\u002Fwhat-is-a-stablecoin-depeg\u002F","2026-08-06T13:59:00+01:00","2026-08-27T15:00:11+01:00","what-is-a-stablecoin-depeg","blockchainBasics",[],[662],{"title":651,"uri":663,"plainText":11,"textBlock":664,"image":666,"externalLink":11,"plainText2":672,"entry":673},"authors\u002Felliptic",{"rawHtml":665},"\u003Cp>Here we discuss cryptoasset compliance, blockchain analysis, financial crime, sanctions regulation, and how Elliptic supports our crypto business and financial services customers with solutions.\u003C\u002Fp>",[667],{"title":668,"url":669,"alt":670,"width":671,"height":671},"Apple touch icon","https:\u002F\u002Fd13k95gd4bp92z.cloudfront.net\u002Fimages\u002Fapple-touch-icon.png","Stylized letter \"E\" in a 3D effect, set against a gradient green background.",180,"Stay ahead with exclusive insight from our experts.",[674],{"uri":192},[676],{"__typename":382,"image":677,"mobileImage":684},[678],{"title":679,"url":680,"alt":681,"width":682,"height":683},"21 What is a stablecoin depeg 720x380","https:\u002F\u002Fd13k95gd4bp92z.cloudfront.net\u002Fimages\u002F21_What-is-a-stablecoin-depeg_720x380.png","A stablecoin falling down",3000,1584,[],[686],{"title":687,"slug":688},"Stablecoins","stablecoins",[],[],[],{"title":693,"description":694,"advanced":695,"keywords":697,"social":698},"What is a stablecoin depeg? | Elliptic","A stablecoin depeg happens when a stablecoin loses its 1:1 peg. Learn how depegs unfold, what history teaches and how institutions manage the risk.",{"canonical":124,"robots":696},[],[],{"facebook":699,"twitter":700},{"description":694,"title":693},{"description":694,"title":693},[702],{"articleContentAreaBlocks":703},[704],{"__typename":705,"textBlock":706},"textBlock_Entry",{"html":707,"rawHtml":707,"markdown":708,"plainText":709},"\u003Cp>A stablecoin depeg happens when a stablecoin’s market price deviates from its intended 1:1 peg to the fiat currency it represents. When a stablecoin pegged to $1 trades at $0.98 or lower, that deviation can affect liquidity, collateral valuations, redemption activity, counterparty exposure and broader market stability. \u003C\u002Fp>\u003Cp>As stablecoins are widely used for trading, payments, lending and as collateral in \u003Ca href=\"https:\u002F\u002Fwww.elliptic.co\u002Fblockchain-basics\u002Fwhat-is-defi-compliance\u002F\">decentralized finance\u003C\u002Fa> (DeFi), the consequences of a depeg can range from a brief inconvenience to a total collapse. But these depeg risk events can be managed and mitigated with appropriate monitoring, governance and exposure controls. \u003C\u002Fp>\u003Ch2>What causes a stablecoin depeg?\u003C\u002Fh2>\u003Cp>At a high level, stablecoins remain anchored to their peg through a combination of confidence, liquidity and arbitrage. When those factors weaken at the same time, a deviation can briefly occur. If confidence continues to erode, the deviation can widen and cause market volatility.\u003C\u002Fp>\u003Cp>Most depegs begin with a market stress event such as a reserve disclosure, banking disruption, governance concern or broader market shock. Holders lose confidence in liquidity reserves or stability mechanisms and begin selling or redeeming stablecoins at the same time, pushing the market price below $1. \u003C\u002Fp>\u003Cp>Under normal conditions, arbitrageurs step in. If a stablecoin trades at $0.98 but can be redeemed for $1, traders buy it at a discount and capture the spread. This activity restores the peg.\u003C\u002Fp>\u003Cp>However, if there are doubts about reserve sufficiency, access to funds or the ability to process redemptions, arbitrage activity slows. As redemptions accelerate and liquidity thins, even small sales can push prices down sharply, and forced liquidations add further selling pressure. In some cases, this creates a self-reinforcing spiral, where falling prices trigger more selling, driving prices even lower.\u003C\u002Fp>\u003Cp>If one stablecoin depegs, it can also cause a domino effect of losses, liquidations or panic in other platforms, cryptoassets and protocols that hold it as collateral. This spreading of financial stress from one stablecoin to others is known as “contagion.”\u003C\u002Fp>\u003Cp>The more a stablecoin relies on market incentives rather than reserves, the more vulnerable it is to confidence-driven spirals, which is why the type of stablecoin often determines how severe a depeg becomes. \u003C\u002Fp>\u003Ch2>How stablecoin depegs differ by type\u003C\u002Fh2>\u003Cp>A stablecoin’s structure largely determines how far and fast its value can fall during stress events.\u003C\u002Fp>\u003Cul>\u003Cli>\u003Cstrong>Fiat-backed stablecoins\u003C\u002Fstrong> such as USD Coin (USDC) or Tether (USDT) typically hold reserves in cash or short-term government securities. Price deviations are often driven by temporary liquidity constraints or concerns about banking exposure. Depegs in this category tend to be shorter and shallower, but the USDC depeg showed they are not impossible (more on this below).\u003C\u002Fli>\u003Cli>\u003Cstrong>Crypto-backed stablecoins\u003C\u002Fstrong> use digital assets as collateral, often with overcollateralization as a safety buffer. If crypto markets drop sharply enough, collateral ratios can fall below safe thresholds, triggering liquidations that accelerate a depeg.\u003C\u002Fli>\u003Cli>\u003Cstrong>Algorithmic stablecoins\u003C\u002Fstrong> present the highest risk. Rather than holding reserves, they use market incentives and token mechanics to maintain their peg. This model relies entirely on confidence in the algorithm. When confidence breaks, there is no reserve buffer and the depeg can spiral to zero. \u003C\u002Fli>\u003C\u002Ful>\u003Ch2>In the news: stablecoin depeg examples\u003C\u002Fh2>\u003Cp>TerraUSD (UST) and USDC represent two major stablecoin depeg events that impacted investors, institutions and the broader crypto economy. \u003C\u002Fp>\u003Ch3>The UST collapse: a death spiral\u003C\u002Fh3>\u003Cp>The \u003Ca href=\"https:\u002F\u002Fen.wikipedia.org\u002Fwiki\u002FCryptocurrency_bubble#Collapse_of_Terra-Luna\">UST collapse\u003C\u002Fa> in May 2022 remains the most significant algorithmic stablecoin depeg event to date.\u003C\u002Fp>\u003Cp>UST was an algorithmic stablecoin pegged to the US dollar. Its stability mechanism relied on a relationship with a sister token, LUNA. When UST traded below $1, users could burn UST to mint LUNA at a profit – theoretically creating buying pressure that would push UST back toward its peg.\u003C\u002Fp>\u003Cp>But when market confidence weakened, large redemptions began and UST slipped below $1. The burn-and-mint mechanism went into overdrive, flooding the market with LUNA. Rather than confidence in the mechanism driving arbitrageurs to act, panic selling overwhelmed it.\u003C\u002Fp>\u003Cp>The result was a classic death spiral. As LUNA's value collapsed, UST’s stabilizing mechanism broke down. Within days, UST fell far below $1 and ultimately toward zero, destroying more than $60 billion in value.\u003C\u002Fp>\u003Cp>The UST collapse is the defining case study of how confidence, liquidity and algorithmic stabilization mechanics can fail simultaneously. \u003C\u002Fp>\u003Ch3>The USDC depeg: TradFi contagion\u003C\u002Fh3>\u003Cp>A different type of depeg occurred in March 2023, when \u003Ca href=\"https:\u002F\u002Fwww.cnbc.com\u002F2023\u002F03\u002F11\u002Fstablecoin-usdc-breaks-dollar-peg-after-firm-reveals-it-has-3point3-billion-in-svb-exposure.html\">USDC, issued by Circle, briefly traded to approximately $0.90\u003C\u002Fa>, a significant deviation for a stablecoin backed by fiat reserves.\u003C\u002Fp>\u003Cp>The trigger was not an algorithmic flaw. Instead, Circle disclosed that $3.3 billion of USDC's cash reserves were held at Silicon Valley Bank (SVB), which regulators had just shut down. \u003C\u002Fp>\u003Cp>The depeg resolved quickly. US regulators including the Federal Deposit Insurance Corporation (FDIC) announced that all SVB depositors would be made whole, and USDC returned to its peg within days. But the event showed how even fiat-backed stablecoins can be exposed to traditional finance (TradFi) contagion.\u003C\u002Fp>\u003Ch2>How contagion spreads\u003C\u002Fh2>\u003Cp>Stablecoins are deeply embedded in trading pairs, liquidity pools and collateral frameworks across DeFi and centralized platforms. When one stablecoin loses its peg, the effects ripple outward.\u003C\u002Fp>\u003Cp>During the USDC depeg, DAI, a prominent cryptoasset-backed stablecoin, experienced instability because approximately 40% of its collateral was held in USDC. As USDC fell, DAI’s backing weakened, causing its own peg to wobble.\u003C\u002Fp>\u003Cp>This is how contagion works. When one stablecoin deviates, the impact cascades through lending markets, derivatives protocols and treasury strategies holding stablecoins as collateral.\u003C\u002Fp>\u003Cp>A depeg event creates multiple layers of risk at once, and institutions must have proactive controls in place to manage and mitigate exposure.\u003C\u002Fp>\u003Ch2>How to manage stablecoin depeg risk\u003C\u002Fh2>\u003Cp>Depegs aren’t reasons to avoid stablecoins. They simply require disciplined risk management. Real-time monitoring of stablecoin prices, trading volumes and on-chain activity provides early warning of price deviations, giving institutions time to make decisions before a situation escalates.\u003C\u002Fp>\u003Cp>Diversifying across multiple stablecoins reduces exposure to any single depeg event, but correlation risk can undermine diversification benefits. As the USDC-DAI dynamic showed, stablecoins can wobble together during a crisis.\u003C\u002Fp>\u003Cp>Setting clear exposure limits relative to total assets helps contain the damage if a depeg occurs. Institutions should review these limits regularly, not set them once and forget them.\u003C\u002Fp>\u003Cp>Institutions also need contingency plans. They should define in advance what triggers a response, identify alternative liquidity sources and establish clear internal communication protocols. A plan built during a crisis is rarely as effective as one built before it.\u003C\u002Fp>\u003Cp>Elliptic provides blockchain analytics tools that help institutions monitor and manage stablecoin risk. Our team can help build risk management processes that support the safe use of stablecoins. \u003Ca href=\"https:\u002F\u002Fwww.elliptic.co\u002Fget-started\u002F\">\u003Cstrong>Book a demo\u003C\u002Fstrong>\u003C\u002Fa> today to see how that works in practice.\u003C\u002Fp>","A stablecoin depeg happens when a stablecoin’s market price deviates from its intended 1:1 peg to the fiat currency it represents. When a stablecoin pegged to $1 trades at $0.98 or lower, that deviation can affect liquidity, collateral valuations, redemption activity, counterparty exposure and broader market stability.\n\nAs stablecoins are widely used for trading, payments, lending and as collateral in [decentralized finance](https:\u002F\u002Fwww.elliptic.co\u002Fblockchain-basics\u002Fwhat-is-defi-compliance\u002F) (DeFi), the consequences of a depeg can range from a brief inconvenience to a total collapse. But these depeg risk events can be managed and mitigated with appropriate monitoring, governance and exposure controls.\n\n## What causes a stablecoin depeg?\n\nAt a high level, stablecoins remain anchored to their peg through a combination of confidence, liquidity and arbitrage. When those factors weaken at the same time, a deviation can briefly occur. If confidence continues to erode, the deviation can widen and cause market volatility.\n\nMost depegs begin with a market stress event such as a reserve disclosure, banking disruption, governance concern or broader market shock. Holders lose confidence in liquidity reserves or stability mechanisms and begin selling or redeeming stablecoins at the same time, pushing the market price below $1.\n\nUnder normal conditions, arbitrageurs step in. If a stablecoin trades at $0.98 but can be redeemed for $1, traders buy it at a discount and capture the spread. This activity restores the peg.\n\nHowever, if there are doubts about reserve sufficiency, access to funds or the ability to process redemptions, arbitrage activity slows. As redemptions accelerate and liquidity thins, even small sales can push prices down sharply, and forced liquidations add further selling pressure. In some cases, this creates a self-reinforcing spiral, where falling prices trigger more selling, driving prices even lower.\n\nIf one stablecoin depegs, it can also cause a domino effect of losses, liquidations or panic in other platforms, cryptoassets and protocols that hold it as collateral. This spreading of financial stress from one stablecoin to others is known as “contagion.”\n\nThe more a stablecoin relies on market incentives rather than reserves, the more vulnerable it is to confidence-driven spirals, which is why the type of stablecoin often determines how severe a depeg becomes.\n\n## How stablecoin depegs differ by type\n\nA stablecoin’s structure largely determines how far and fast its value can fall during stress events.\n\n- **Fiat-backed stablecoins** such as USD Coin (USDC) or Tether (USDT) typically hold reserves in cash or short-term government securities. Price deviations are often driven by temporary liquidity constraints or concerns about banking exposure. Depegs in this category tend to be shorter and shallower, but the USDC depeg showed they are not impossible (more on this below).\n- **Crypto-backed stablecoins** use digital assets as collateral, often with overcollateralization as a safety buffer. If crypto markets drop sharply enough, collateral ratios can fall below safe thresholds, triggering liquidations that accelerate a depeg.\n- **Algorithmic stablecoins** present the highest risk. Rather than holding reserves, they use market incentives and token mechanics to maintain their peg. This model relies entirely on confidence in the algorithm. When confidence breaks, there is no reserve buffer and the depeg can spiral to zero.\n\n## In the news: stablecoin depeg examples\n\nTerraUSD (UST) and USDC represent two major stablecoin depeg events that impacted investors, institutions and the broader crypto economy.\n\n### The UST collapse: a death spiral\n\nThe [UST collapse](https:\u002F\u002Fen.wikipedia.org\u002Fwiki\u002FCryptocurrency_bubble#Collapse_of_Terra-Luna) in May 2022 remains the most significant algorithmic stablecoin depeg event to date.\n\nUST was an algorithmic stablecoin pegged to the US dollar. Its stability mechanism relied on a relationship with a sister token, LUNA. When UST traded below $1, users could burn UST to mint LUNA at a profit – theoretically creating buying pressure that would push UST back toward its peg.\n\nBut when market confidence weakened, large redemptions began and UST slipped below $1. The burn-and-mint mechanism went into overdrive, flooding the market with LUNA. Rather than confidence in the mechanism driving arbitrageurs to act, panic selling overwhelmed it.\n\nThe result was a classic death spiral. As LUNA's value collapsed, UST’s stabilizing mechanism broke down. Within days, UST fell far below $1 and ultimately toward zero, destroying more than $60 billion in value.\n\nThe UST collapse is the defining case study of how confidence, liquidity and algorithmic stabilization mechanics can fail simultaneously.\n\n### The USDC depeg: TradFi contagion\n\nA different type of depeg occurred in March 2023, when [USDC, issued by Circle, briefly traded to approximately $0.90](https:\u002F\u002Fwww.cnbc.com\u002F2023\u002F03\u002F11\u002Fstablecoin-usdc-breaks-dollar-peg-after-firm-reveals-it-has-3point3-billion-in-svb-exposure.html), a significant deviation for a stablecoin backed by fiat reserves.\n\nThe trigger was not an algorithmic flaw. Instead, Circle disclosed that $3.3 billion of USDC's cash reserves were held at Silicon Valley Bank (SVB), which regulators had just shut down.\n\nThe depeg resolved quickly. US regulators including the Federal Deposit Insurance Corporation (FDIC) announced that all SVB depositors would be made whole, and USDC returned to its peg within days. But the event showed how even fiat-backed stablecoins can be exposed to traditional finance (TradFi) contagion.\n\n## How contagion spreads\n\nStablecoins are deeply embedded in trading pairs, liquidity pools and collateral frameworks across DeFi and centralized platforms. When one stablecoin loses its peg, the effects ripple outward.\n\nDuring the USDC depeg, DAI, a prominent cryptoasset-backed stablecoin, experienced instability because approximately 40% of its collateral was held in USDC. As USDC fell, DAI’s backing weakened, causing its own peg to wobble.\n\nThis is how contagion works. When one stablecoin deviates, the impact cascades through lending markets, derivatives protocols and treasury strategies holding stablecoins as collateral.\n\nA depeg event creates multiple layers of risk at once, and institutions must have proactive controls in place to manage and mitigate exposure.\n\n## How to manage stablecoin depeg risk\n\nDepegs aren’t reasons to avoid stablecoins. They simply require disciplined risk management. Real-time monitoring of stablecoin prices, trading volumes and on-chain activity provides early warning of price deviations, giving institutions time to make decisions before a situation escalates.\n\nDiversifying across multiple stablecoins reduces exposure to any single depeg event, but correlation risk can undermine diversification benefits. As the USDC-DAI dynamic showed, stablecoins can wobble together during a crisis.\n\nSetting clear exposure limits relative to total assets helps contain the damage if a depeg occurs. Institutions should review these limits regularly, not set them once and forget them.\n\nInstitutions also need contingency plans. They should define in advance what triggers a response, identify alternative liquidity sources and establish clear internal communication protocols. A plan built during a crisis is rarely as effective as one built before it.\n\nElliptic provides blockchain analytics tools that help institutions monitor and manage stablecoin risk. Our team can help build risk management processes that support the safe use of stablecoins. [**Book a demo**](https:\u002F\u002Fwww.elliptic.co\u002Fget-started\u002F) today to see how that works in practice.","A stablecoin depeg happens when a stablecoin’s market price deviates from its intended 1:1 peg to the fiat currency it represents. When a stablecoin pegged to $1 trades at $0.98 or lower, that deviation can affect liquidity, collateral valuations, redemption activity, counterparty exposure and broader market stability.\n\nAs stablecoins are widely used for trading, payments, lending and as collateral in decentralized finance (DeFi), the consequences of a depeg can range from a brief inconvenience to a total collapse. But these depeg risk events can be managed and mitigated with appropriate monitoring, governance and exposure controls.\n\nWhat causes a stablecoin depeg?\n\nAt a high level, stablecoins remain anchored to their peg through a combination of confidence, liquidity and arbitrage. When those factors weaken at the same time, a deviation can briefly occur. If confidence continues to erode, the deviation can widen and cause market volatility.\n\nMost depegs begin with a market stress event such as a reserve disclosure, banking disruption, governance concern or broader market shock. Holders lose confidence in liquidity reserves or stability mechanisms and begin selling or redeeming stablecoins at the same time, pushing the market price below $1.\n\nUnder normal conditions, arbitrageurs step in. If a stablecoin trades at $0.98 but can be redeemed for $1, traders buy it at a discount and capture the spread. This activity restores the peg.\n\nHowever, if there are doubts about reserve sufficiency, access to funds or the ability to process redemptions, arbitrage activity slows. As redemptions accelerate and liquidity thins, even small sales can push prices down sharply, and forced liquidations add further selling pressure. In some cases, this creates a self-reinforcing spiral, where falling prices trigger more selling, driving prices even lower.\n\nIf one stablecoin depegs, it can also cause a domino effect of losses, liquidations or panic in other platforms, cryptoassets and protocols that hold it as collateral. This spreading of financial stress from one stablecoin to others is known as “contagion.”\n\nThe more a stablecoin relies on market incentives rather than reserves, the more vulnerable it is to confidence-driven spirals, which is why the type of stablecoin often determines how severe a depeg becomes.\n\nHow stablecoin depegs differ by type\n\nA stablecoin’s structure largely determines how far and fast its value can fall during stress events.\n\n- Fiat-backed stablecoins such as USD Coin (USDC) or Tether (USDT) typically hold reserves in cash or short-term government securities. Price deviations are often driven by temporary liquidity constraints or concerns about banking exposure. Depegs in this category tend to be shorter and shallower, but the USDC depeg showed they are not impossible (more on this below).\n- Crypto-backed stablecoins use digital assets as collateral, often with overcollateralization as a safety buffer. If crypto markets drop sharply enough, collateral ratios can fall below safe thresholds, triggering liquidations that accelerate a depeg.\n- Algorithmic stablecoins present the highest risk. Rather than holding reserves, they use market incentives and token mechanics to maintain their peg. This model relies entirely on confidence in the algorithm. When confidence breaks, there is no reserve buffer and the depeg can spiral to zero.\n\nIn the news: stablecoin depeg examples\n\nTerraUSD (UST) and USDC represent two major stablecoin depeg events that impacted investors, institutions and the broader crypto economy.\n\nThe UST collapse: a death spiral\n\nThe UST collapse in May 2022 remains the most significant algorithmic stablecoin depeg event to date.\n\nUST was an algorithmic stablecoin pegged to the US dollar. Its stability mechanism relied on a relationship with a sister token, LUNA. When UST traded below $1, users could burn UST to mint LUNA at a profit – theoretically creating buying pressure that would push UST back toward its peg.\n\nBut when market confidence weakened, large redemptions began and UST slipped below $1. The burn-and-mint mechanism went into overdrive, flooding the market with LUNA. Rather than confidence in the mechanism driving arbitrageurs to act, panic selling overwhelmed it.\n\nThe result was a classic death spiral. As LUNA's value collapsed, UST’s stabilizing mechanism broke down. Within days, UST fell far below $1 and ultimately toward zero, destroying more than $60 billion in value.\n\nThe UST collapse is the defining case study of how confidence, liquidity and algorithmic stabilization mechanics can fail simultaneously.\n\nThe USDC depeg: TradFi contagion\n\nA different type of depeg occurred in March 2023, when USDC, issued by Circle, briefly traded to approximately $0.90, a significant deviation for a stablecoin backed by fiat reserves.\n\nThe trigger was not an algorithmic flaw. Instead, Circle disclosed that $3.3 billion of USDC's cash reserves were held at Silicon Valley Bank (SVB), which regulators had just shut down.\n\nThe depeg resolved quickly. US regulators including the Federal Deposit Insurance Corporation (FDIC) announced that all SVB depositors would be made whole, and USDC returned to its peg within days. But the event showed how even fiat-backed stablecoins can be exposed to traditional finance (TradFi) contagion.\n\nHow contagion spreads\n\nStablecoins are deeply embedded in trading pairs, liquidity pools and collateral frameworks across DeFi and centralized platforms. When one stablecoin loses its peg, the effects ripple outward.\n\nDuring the USDC depeg, DAI, a prominent cryptoasset-backed stablecoin, experienced instability because approximately 40% of its collateral was held in USDC. As USDC fell, DAI’s backing weakened, causing its own peg to wobble.\n\nThis is how contagion works. When one stablecoin deviates, the impact cascades through lending markets, derivatives protocols and treasury strategies holding stablecoins as collateral.\n\nA depeg event creates multiple layers of risk at once, and institutions must have proactive controls in place to manage and mitigate exposure.\n\nHow to manage stablecoin depeg risk\n\nDepegs aren’t reasons to avoid stablecoins. They simply require disciplined risk management. Real-time monitoring of stablecoin prices, trading volumes and on-chain activity provides early warning of price deviations, giving institutions time to make decisions before a situation escalates.\n\nDiversifying across multiple stablecoins reduces exposure to any single depeg event, but correlation risk can undermine diversification benefits. As the USDC-DAI dynamic showed, stablecoins can wobble together during a crisis.\n\nSetting clear exposure limits relative to total assets helps contain the damage if a depeg occurs. Institutions should review these limits regularly, not set them once and forget them.\n\nInstitutions also need contingency plans. They should define in advance what triggers a response, identify alternative liquidity sources and establish clear internal communication protocols. A plan built during a crisis is rarely as effective as one built before it.\n\nElliptic provides blockchain analytics tools that help institutions monitor and manage stablecoin risk. Our team can help build risk management processes that support the safe use of stablecoins. **Book a demo** today to see how that works in practice.",[],[712,755,806],{"__typename":650,"siteName":651,"uri":713,"id":714,"title":715,"url":716,"postDate":717,"dateUpdated":718,"slug":719,"sectionHandle":720,"siteHandle":721,"ancestors":722,"authorSelect":723,"asset":730,"categoryTopics":738,"categoryNewsTypes":743,"categoryIndustries":744,"categoryRegions":745,"seo":746},"insights\u002Fstablecoin-compliance-playbook-for-stablecoin-issuers-and-financial-institutions","17772","The stablecoin compliance playbook for stablecoin issuers and financial institutions","https:\u002F\u002Fwww.elliptic.co\u002Finsights\u002Fstablecoin-compliance-playbook-for-stablecoin-issuers-and-financial-institutions\u002F","2026-01-23T08:52:30+00:00","2026-07-14T17:31:38+01:00","stablecoin-compliance-playbook-for-stablecoin-issuers-and-financial-institutions","insightsResearch","default",[],[724],{"title":651,"uri":663,"plainText":11,"textBlock":725,"image":726,"externalLink":11,"plainText2":672,"entry":728},{"rawHtml":665},[727],{"title":668,"url":669,"alt":670,"width":671,"height":671},[729],{"uri":192},[731],{"__typename":382,"image":732,"mobileImage":737},[733],{"title":734,"url":735,"alt":736,"width":682,"height":683},"Stablecoin report launch blog 720x380","https:\u002F\u002Fd13k95gd4bp92z.cloudfront.net\u002Fimages\u002Farticle-images\u002FStablecoin-report-launch-blog_720x380_2026-07-14-163137_opsy.png","Abstract illustration of floating and spinning coins with a gradient color scheme, suggesting movement and speed against a dark background.",[],[739,742],{"title":740,"slug":741},"Compliance","compliance",{"title":687,"slug":688},[],[],[],{"title":747,"description":748,"advanced":749,"keywords":751,"social":752},"The stablecoin compliance playbook for stablecoin issuers and financial institutions | Elliptic","Elliptic's new report provides a compliance and risk management blueprint for both stablecoin issuers and the financial institutions that serve them. ",{"canonical":11,"robots":750},[],[],{"facebook":753,"twitter":754},{"description":748,"title":747},{"description":748,"title":747},{"__typename":650,"siteName":651,"uri":756,"id":757,"title":758,"url":759,"postDate":760,"dateUpdated":761,"slug":762,"sectionHandle":720,"siteHandle":721,"ancestors":763,"authorSelect":764,"asset":779,"categoryTopics":789,"categoryNewsTypes":791,"categoryIndustries":792,"categoryRegions":793,"seo":797},"insights\u002Fhow-uk-stablecoin-rules-came-together","107498","How the UK's stablecoin rules came together","https:\u002F\u002Fwww.elliptic.co\u002Finsights\u002Fhow-uk-stablecoin-rules-came-together\u002F","2026-07-06T14:20:00+01:00","2026-08-03T14:30:01+01:00","how-uk-stablecoin-rules-came-together",[],[765],{"title":766,"uri":767,"plainText":768,"textBlock":769,"image":771,"externalLink":11,"plainText2":672,"entry":777},"Dr. Kelly Coulter","authors\u002Fdr-kelly-coulter","Director of Policy and Regulations for EMEA",{"rawHtml":770},"\u003Cp>Kelly Coulter is Elliptic's Director of Policy and Regulations for EMEA. She joined from the Financial Conduct Authority (FCA), where she helped shape the UK's regulatory framework for digital assets, covering token classification, decentralized finance (DeFi) and infrastructure oversight. Her earlier experience includes machine learning engineering at HSBC and research in financial technology and regulation at University College London. At Elliptic, she represents the company to customers, partners and regulators across the region.\u003C\u002Fp>",[772],{"title":773,"url":774,"alt":775,"width":776,"height":776},"E08 AKP6 DZT5 U0 AGBRXAD1 V 6df03e83814d 512","https:\u002F\u002Fd13k95gd4bp92z.cloudfront.net\u002Fimages\u002Farticle-images\u002FE08AKP6DZT5-U0AGBRXAD1V-6df03e83814d-512.png","Person with long, wavy brown hair, wearing a striped button-up shirt, and earrings, posing against a plain gray background.",512,[778],{"uri":192},[780],{"__typename":382,"image":781,"mobileImage":788},[782],{"title":783,"url":784,"alt":785,"width":786,"height":787},"92 UK stablecoin rules 720x380","https:\u002F\u002Fd13k95gd4bp92z.cloudfront.net\u002Fimages\u002F92_UK-stablecoin-rules_720x380.webp","A stylized illustration of a coin surrounded by circular arrows, overlaid on a map of the UK with various currency symbols.",1000,528,[],[790],{"title":687,"slug":688},[],[],[794],{"title":795,"slug":796},"EMEA","emea",{"title":798,"description":124,"advanced":799,"keywords":801,"social":802},"How the UK's stablecoin rules came together | Elliptic",{"canonical":124,"robots":800},[],[],{"facebook":803,"twitter":805},{"description":124,"title":804},"How the UK's stablecoin rules came together - Elliptic",{"description":124,"title":804},{"__typename":807,"siteName":651,"uri":808,"id":809,"title":810,"url":811,"postDate":812,"dateUpdated":813,"slug":814,"sectionHandle":720,"siteHandle":721,"ancestors":815,"authorSelect":816,"asset":817,"categoryTopics":827,"categoryNewsTypes":833,"categoryIndustries":834,"categoryRegions":835,"seo":836},"articleWithForm_Entry","insights\u002Fhow-to-safely-issue-and-bank-stablecoins","17805","How to safely issue and bank stablecoins","https:\u002F\u002Fwww.elliptic.co\u002Finsights\u002Fhow-to-safely-issue-and-bank-stablecoins\u002F","2026-01-19T14:16:10+00:00","2026-07-29T19:04:26+01:00","how-to-safely-issue-and-bank-stablecoins",[],[],[818],{"__typename":382,"image":819,"mobileImage":826},[820],{"title":821,"url":822,"alt":823,"width":824,"height":825},"Stablecoin Socail asset 04","https:\u002F\u002Fd13k95gd4bp92z.cloudfront.net\u002Fimages\u002Farticle-images\u002FStablecoin_Socail-asset_04_2026-07-14-163141_alak.png","Explore how to safely issue and bank stablecoins. Stablecoin compliance and financial crime management for issuers and institutions.",5000,2613,[],[828,831,832],{"title":829,"slug":830},"Reports & Whitepapers","reports-whitepapers",{"title":740,"slug":741},{"title":687,"slug":688},[],[],[],{"title":837,"description":838,"advanced":839,"keywords":841,"social":842},"How to safely issue and bank stablecoins | Elliptic","Learn how to safely issue and bank stablecoins with Elliptic's compliance and risk management blueprint. Download the report for regulatory insights and risk management strategies.",{"canonical":11,"robots":840},[],[],{"facebook":843,"twitter":844},{"description":838,"title":837},{"description":838,"title":837},[846],{"title":11,"ariaLabel":11,"target":11,"linkUrl":625,"text":626,"__typename":14},[848,866,891,918,945,971,999],{"id":653,"uri":652,"title":654,"postDate":656,"__typename":650,"asset":849,"categoryTopics":854,"categoryNewsTypes":856,"categoryIndustries":857,"categoryRegions":858,"categoryWebinarTypes":11,"categoryEventTypes":11,"authorSelect":859,"date":11,"date2":11,"plainText":11,"externalUrl":11,"private":11},[850],{"__typename":382,"image":851,"mobileImage":853},[852],{"title":679,"url":680,"alt":681,"width":682,"height":683},[],[855],{"title":687,"slug":688},[],[],[],[860],{"title":651,"uri":663,"plainText":11,"textBlock":861,"image":862,"externalLink":11,"plainText2":672,"entry":864},{"rawHtml":665},[863],{"title":668,"url":669,"alt":670,"width":671,"height":671},[865],{"uri":192},{"id":867,"uri":868,"title":869,"postDate":870,"__typename":650,"asset":871,"categoryTopics":879,"categoryNewsTypes":881,"categoryIndustries":882,"categoryRegions":883,"categoryWebinarTypes":11,"categoryEventTypes":11,"authorSelect":884,"date":11,"date2":11,"plainText":11,"externalUrl":11,"private":11},"13884","blockchain-basics\u002Fdifferent-types-of-stablecoins","What are the different types of stablecoins?","2026-03-23T10:40:55+00:00",[872],{"__typename":382,"image":873,"mobileImage":878},[874],{"title":875,"url":876,"alt":877,"width":682,"height":683},"22 Types of stablecoins 720x380","https:\u002F\u002Fd13k95gd4bp92z.cloudfront.net\u002Fimages\u002Farticle-images\u002F22_Types-of-stablecoins_720x380_2026-07-14-162331_mvmj.png","Abstract digital illustration featuring interconnected lines and various currency symbols on a dark 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symbols including Tether, DAI, and another unidentified coin, presented in a neon style.",2400,1255,[],[907],{"title":687,"slug":688},[],[],[],[912],{"title":651,"uri":663,"plainText":11,"textBlock":913,"image":914,"externalLink":11,"plainText2":672,"entry":916},{"rawHtml":665},[915],{"title":668,"url":669,"alt":670,"width":671,"height":671},[917],{"uri":192},{"id":919,"uri":920,"title":921,"postDate":922,"__typename":650,"asset":923,"categoryTopics":933,"categoryNewsTypes":935,"categoryIndustries":936,"categoryRegions":937,"categoryWebinarTypes":11,"categoryEventTypes":11,"authorSelect":938,"date":11,"date2":11,"plainText":11,"externalUrl":11,"private":11},"12014","blockchain-basics\u002Fhow-do-stablecoins-make-money","How do stablecoins make money?","2025-12-29T09:25:37+00:00",[924],{"__typename":382,"image":925,"mobileImage":932},[926],{"title":927,"url":928,"alt":929,"width":930,"height":931},"5 How do stablecoins make money Image","https:\u002F\u002Fd13k95gd4bp92z.cloudfront.net\u002Fimages\u002Farticle-images\u002F5_How-do-stablecoins-make-money_Image_2026-07-14-161932_lsse.png","A stylized coin with a blue-green gradient surrounded by glowing lines and icons representing blockchain concepts on a dark background.",2250,1187,[],[934],{"title":687,"slug":688},[],[],[],[939],{"title":651,"uri":663,"plainText":11,"textBlock":940,"image":941,"externalLink":11,"plainText2":672,"entry":943},{"rawHtml":665},[942],{"title":668,"url":669,"alt":670,"width":671,"height":671},[944],{"uri":192},{"id":946,"uri":947,"title":948,"postDate":949,"__typename":650,"asset":950,"categoryTopics":959,"categoryNewsTypes":961,"categoryIndustries":962,"categoryRegions":963,"categoryWebinarTypes":11,"categoryEventTypes":11,"authorSelect":964,"date":11,"date2":11,"plainText":11,"externalUrl":11,"private":11},"18814","blockchain-basics\u002Fstablecoin-use-cases-explained","What are the most common stablecoin use 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stablecoins","https:\u002F\u002Fd13k95gd4bp92z.cloudfront.net\u002Fimages\u002Farticle-images\u002FPros-and-cons-of-stablecoins.png","Blockchain Basics illustration featuring a digital coin surrounded by icons representing users, energy, and connectivity.",[],[985,986],{"title":687,"slug":688},{"title":987,"slug":988},"Basics of Crypto","basics-of-crypto",[],[],[],[993],{"title":651,"uri":663,"plainText":11,"textBlock":994,"image":995,"externalLink":11,"plainText2":672,"entry":997},{"rawHtml":665},[996],{"title":668,"url":669,"alt":670,"width":671,"height":671},[998],{"uri":192},{"id":1000,"uri":1001,"title":1002,"postDate":1003,"__typename":650,"asset":1004,"categoryTopics":1012,"categoryNewsTypes":1014,"categoryIndustries":1015,"categoryRegions":1016,"categoryWebinarTypes":11,"categoryEventTypes":11,"authorSelect":1017,"date":11,"date2":11,"plainText":11,"externalUrl":11,"private":11},"16025","blockchain-basics\u002Fstablecoin-minting-and-burning","Stablecoin minting and burning: how 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does this matter for stablecoin issuers and firms?",{"rawHtml":1131},"It highlights sanctions exposure risk for issuers and firms that handle dollar stablecoins, who may need to detect and act on links to sanctioned jurisdictions.",[1133],{"title":1134,"slug":1135},"Sanctions Exposure","sanctions-exposure",[1137],{"title":687,"slug":688},{"title":1139,"textBlock":1140,"categoryFaqs":1142,"categoryTopics":1146},"What does the GENIUS Act mean for banks?",{"rawHtml":1141},"Under the GENIUS Act, every stablecoin a bank touches will be either permitted under federal law or not, and treating a non-permitted stablecoin as permitted would be a compliance failure.",[1143],{"title":1144,"slug":1145},"GENIUS Act","genius-act",[1147],{"title":687,"slug":688},{"title":1149,"textBlock":1150,"categoryFaqs":1152,"categoryTopics":1156},"How should banks prepare for stablecoin compliance?",{"rawHtml":1151},"Banks need to identify which stablecoins are permitted, screen for exposure to non-permitted 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