The current market scenario in India is witnessing fluctuations due to the tariffs imposed by the US administration and the subsequent retaliatory measures from trading partners. Analysts suggest that the impact of these tariffs is mainly a negotiation tactic by the Trump administration and is expected to be manageable for businesses and consumers. Furthermore, market uncertainty is fueled by inflationary pressures that could challenge the US Federal Reserve’s rate-cutting strategy. A looming fiscal debate in Washington over the federal budget is also contributing to market jitters. The unresolved debt ceiling issue in the US is a significant concern, with the Treasury resorting to “extraordinary measures” to meet financial obligations. Stablecoins, particularly dollar-pegged ones like Tether’s USDt and USDC, are experiencing steady growth amidst this economic uncertainty. The stablecoin market cap has reached a record $226 billion, driven by demand in emerging markets. Tether’s USDt alone accounts for over 60% of the stablecoin market. This shift towards stablecoins is also evident in Argentina, where high inflation rates have prompted people to use stablecoins like USDT to protect their wealth. The rise of stablecoins has paved the way for decentralized onchain banks, known as deobanks, which offer financial services using stablecoins as their native currency. Analysts predict that the stablecoin market cap may exceed $400 billion by 2025, with deobanks playing a crucial role in driving economic growth and expanding digital payment networks. This trend signifies a shift towards a more efficient and inclusive financial ecosystem in the years to come.