Total stablecoin market cap surpasses $230 billion amid institutional interest and Trump policies

The stablecoin market capitalization surpassed $230 billion, data shows.U.S. President Trump once again highlighted his support for U.S. dollar-backed stablecoins during his speech on Thursday.The U.S. Senate Banking Committee recently voted to pass the “GENIUS Act,” a bill to set up a legal framework for stablecoins.