Bitget Signals a New Phase in the Global Stablecoin Race
Global regulators tighten oversight while emerging markets and major powers pursue alternative stablecoins, escalating competition across the digital‑asset economy
Dollar-backed and non‑dollar‑backed stablecoins are entering a pivotal phase as countries explore sovereign digital money, regulators redraw the compliance map, and blockchain rails become integral to institutional finance. The rapid expansion of this asset class is reshaping how value moves across borders, prompting deeper debates about currency stability, national strategy, and real‑world use cases.
The dual-track development of retail and institutional stablecoins is accelerating. Several jurisdictions are advancing frameworks that push the industry toward more transparent reserve models, while others view stablecoins as a geopolitical tool. Against this backdrop, emerging markets will continue to adopt digital dollars out of necessity, even as major economies consider their own alternatives.
“Stablecoins for retail will be faster and easier, and they will allow systems where you can send the smallest amount with zero fees,” Vugar Usi Zade, Chief Operating Officer of Bitget, told TechJournal.uk in an interview.
He also highlighted the immediate benefits for small and medium‑sized businesses, noting that traditional card payments typically carry 1.5% to 3% in fees and can take 20 to 60 days to reach merchants. By contrast, retail‑focused stablecoins can remove this lag entirely, easing cash‑flow pressure and enabling merchants to operate with far greater certainty.
“For institutions, stablecoins increase the velocity of money and support better financial systems,” he said. “It would be good to have both retail and institutional stablecoins.”
Regulatory Shifts
Major regulatory realignments are creating a new operating landscape for exchanges and stablecoin issuers.
Singapore has tightened its digital token rules, requiring offshore firms to cease serving overseas clients unless fully licensed.
Hong Kong, meanwhile, has introduced a licensing framework for stablecoin issuers that emphasizes real-world use cases and sustainability. The Hong Kong Monetary Authority (HKMA) has already passed a dedicated Stablecoin Ordinance (effective from August 1, 2025) and received 36 license applications as of September 30. It plans to begin issuing the first wave of licences in 2026.
In the U.S., a full reversal of earlier enforcement attitudes is encouraging entrepreneurs and institutional players to return.
Zade noted that Europe has taken a particularly cautious and structured approach to the institutional layer of stablecoins, introducing tighter frameworks that shape how large corporations can deploy digital assets across borders.
He observed that the region’s broad regulatory architecture, including MiCA (Markets in Crypto‑Assets Regulation), reflects this cautious stance; complex compliance requirements may impose high costs that ultimately fall on stablecoin issuers rather than delivering meaningful protections, in contrast with the Middle East, where regulators strive to encourage innovation and foreign investment through clearer and more flexible rules.
Beijing’s perspective reflects a more guarded stance. In a recent article, former People’s Bank of China governor Zhou Xiaochuan has outlined two core concerns regarding the rapid rise of stablecoins:
Uncontrolled issuance: Some issuers may create tokens without full reserve backing, raising the risk of over‑issuance that could undermine monetary management.
Amplified leverage effects: Even with full reserves, stablecoins can generate multiplier effects through lending, collateral use, and secondary transactions, exposing issuers and users to potential large‑scale redemption pressure.
Currency and Power
Stablecoins have become instruments in a broader geopolitical competition.
Zade noted that China, India, and Russia view sovereign digital currencies as strategic assets that signal their desire to diversify away from the U.S. dollar. He explained that large exporters are exploring national digital currencies as a way to send a political message, reflecting longstanding efforts by major economies to reduce reliance on the U.S. financial system.
He emphasized that in many emerging markets, adoption is driven by necessity rather than enthusiasm for technology. Countries grappling with high inflation or currency depreciation often rely on stablecoins simply to preserve purchasing power or access global services. This also extends to humanitarian scenarios. During crises in Ukraine and Gaza, organizations turned to stablecoins for direct financial support when traditional banking channels failed.
“People in places like Turkey, Argentina, and Venezuela don’t turn to stablecoins because it’s a trendy idea,” he said. “They are compelled to use them because their national currencies lose value so quickly. In many cases, it becomes the only practical way to preserve purchasing power and access global services.”
These dynamics underscore how digital assets increasingly bridge the gap between financial infrastructure and real‑world needs. As cross‑border commerce and aid depend more heavily on blockchain rails, stablecoins are positioned as both economic tools and geopolitical signals.
Institutional Blockchain Adoption
Zade discussed these themes while speaking at the London Blockchain Conference on October 22, 2025, where he also addressed the broader geopolitical dynamics surrounding digital‑asset adoption.
Real‑world asset (RWA) tokenization and institutional blockchain integration are accelerating alongside stablecoin growth. Corporations and asset managers are investing in blockchain rails to reduce settlement times, optimize liquidity, and enhance security across complex financial operations.
Zade pointed to industries ranging from global logistics to consumer goods that already use blockchain for tracking, verification, and settlement. Tokenized supply-chain systems ensure accuracy and prevent losses, while blockchain‑based audits verify sustainability standards such as deforestation prevention or ethical sourcing.
He also noted that major asset managers are exploring internal stablecoins to eliminate delays and reduce the sizable fees imposed by traditional correspondent banking. Faster settlement and lower operational friction are becoming key motivators for institutional adoption.
Meanwhile, improvements in blockchain scalability and cost efficiency are accelerating experimentation in sectors such as gaming, digital identity and tokenized commodities.
Bitget’s Expansion Strategy
Founded in Singapore in 2018, Bitget emerged from a bear market with a commitment to long‑term development.
The exchange maintains a corporate office in Singapore, though its regulatory position has become increasingly complex as the city‑state’s new requirements took effect on June 30, 2025, mandating that unlicensed crypto bourses serving overseas clients must exit the city.
Bitget is also registered in Seychelles and operates through a decentralized exchange structure supported by regional hubs positioned across several strategic markets.
The exchange is the world’s third‑largest crypto trading platform, competing in a field that also includes major players such as Binance and Bybit. Its global team has grown to more than 1,800 employees across 60 countries, underscoring its ambition to build a broad financial ecosystem. The company serves over 120 million users worldwide, moving roughly US$20 billion a day and maintaining the world’s largest copy‑trading community.
“We offer real‑world assets, U.S. stocks, and almost all forex. We also want to expand to prediction markets,” Zade said.
He described the future of digital finance as a competition for consumer trust, security, and convenience. Bitget aims to emulate the super‑app model—an all‑in‑one interface where users manage income, savings, yield products, and investments across both crypto and traditional markets.
“Moving forward, it’s no longer about the platform itself. It’s about how much people trust you,” he said. “If we can offer a one‑stop service, then people can get all their financial needs in one place.”
The company has also expanded its partnerships with global organizations, including UNICEF, and sponsors major sports associations such as La Liga and MotoGP.
Bitget is currently led by Chief Executive Gracy Chen, who succeeded former CEO Sandra Lou in May 2024. Chen has a decade of experience in business management, marketing, and investment, and has been an early investor in Bitget Wallet, advocating for greater diversity in the Web3 sector.