Stablecoin reserves on Binance have surged to approximately $47.5 billion, now constituting about 65% of all stablecoin liquidity on centralized exchanges according to CryptoQuant data. This growth coincides with upcoming U.S. regulatory developments, including the GENIUS Act set to fully roll out after the 2026 midterm elections, which could significantly impact the cryptocurrency market.
Binance now holds roughly $47.5 billion in stablecoin reserves, a massive share of total exchange liquidity. This growth has occurred steadily over the past year while reserves at other major exchanges like OKX, Coinbase, and Bybit saw slower growth or remained mostly flat.
Short-term flow data shows capital consistently returns to Binance after any brief outflows. The vast majority of this on-exchange liquidity is provided by Tether’s USDT, with smaller contributions from Circle’s USDC.
This accumulation of stablecoin capital is happening as the U.S. prepares for a major regulatory overhaul. According to XWIN Research Japan, the total supply of ERC20 stablecoins has crossed $150 billion.
The passed GENIUS Act is expected to establish clear rules for stablecoins following the 2026 elections. Historically, rising stablecoin supply has preceded major market rallies in the cryptocurrency sector.
In the Asia-Pacific region, Japan has overtaken Singapore as the largest local stablecoin hub. The supply of the yen-linked JPYC has risen to about $26.4 million, helping drive the region’s total to nearly $60 million.
