Welcome to the first issue of The Stablecoin Standard where we cover updates from the Stable network and the evolving landscape of the stablecoin economy.

This covers what’s new at Stable: the public testnet launch, ecosystem activity, new partnerships, and our roadmap for performance and predictable settlement. 

Public Testnet Now Live

Stable’s public testnet is officially open. Developers can now send transactions, deploy contracts, and operate nodes directly on the network.

To begin building, claim your testnet gas token gUSDT at: https://faucet.stable.xyz

Recent testnet activity:

• More than 340,000 accounts created

• Seventy-six contracts verified

• Average block time of 0.73 seconds

For configuration details, node setup guidance, and technical references, visit the Testnet Information section in the documentation.

Mainnet development is progressing steadily and is approaching launch.

At launch, the network will use gUSDT, an unwrapped form of USDT0 as the initial gas asset. This choice ensures predictable costs and consistent execution for payment-focused applications.

Several Day 1 partners are already confirmed, with announcements coming soon.

Looking ahead, several major upgrades and features are already planned to strengthen performance, predictability, and the overall developer experience.

• Next year, the network will migrate to using USDT0 directly as the gas token. This will remove the wrapping and unwrapping steps currently needed for gUSDT.

• Guaranteed Blockspace is progressing and will provide more predictable execution guarantees for institutions.

• A significant performance enhancement using OPE and StableDB is scheduled for next year. This upgrade will further increase throughput and push TPS capabilities to new levels.

Stable’s ecosystem continues to expand with collaborations that strengthen the network ahead of mainnet and broaden what developers and enterprises can build. In the first half of November, Stable announced two key infrastructure partnerships. 

• Anchorage Digital: Anchorage’s institutional-grade custody and settlement infrastructure is now integrated with Stable. This partnership supports compliant, secure operations for enterprises holding and transacting in USDT on Stablechain.

• Alchemy: Alchemy’s infrastructure and developer tooling now support Stablechain. Builders gain access to reliable RPC endpoints, enhanced observability, and mature tooling for production-ready payment applications.

• In November, our ecosystem partners, including Concrete, Hourglass, Frax, Morpho, and Pendle, successfully concluded two phases of Pre-Deposit Campaigns, resulting in over $2.6 billion in total deposits. More than 26,000 wallets participated in these phases, showcasing the vibrant engagement within our community.

• With the total deposit cap reaching $1.325 billion in the pre-deposit campaigns, the Stable mainnet is set to go live with over $1 billion in Total Value Locked (TVL). As our CEO, Brian Mehler stated, this commitment signals strong market demand for payment-focused blockchain infrastructure and reflects trust in Stable’s network and confidence in our role in transforming global payments and settlement.

• In partnership with Theo Network, vault operator Concrete is deploying $75M from its Stable Pre-deposit Campaign to mint thBILL, a premier tokenized asset backed by Standard Chartered’s Libeara and Wellington Management, bridging stablecoin networks with real-world finance.

• As we approach the mainnet launch, we have been working diligently with institutional partners and payment providers to align settlement flows on Stable, ensuring a smooth transition into this new phase of our ecosystem.

• The total stablecoin market capitalization has surpassed $300 billion, with USDT leading at approximately $184 billion in circulating supply. 

• In its latest quarterly disclosure, Tether reported issuing more than $17 billion in new USDT during Q3.

• Global USDT users now exceed 500 million, underscoring its position as the most widely adopted stablecoin across exchanges, merchant flows, remittances, and cross-border settlement.

• As of September 30, 2025, Tether states that its reserves exceed its liabilities by approximately $6.8 billion, reinforcing the backing behind USDT in circulation.

These figures underscore why Stable’s focus on a USDT-native payment rail matters: the market is substantial, growing, and poised for deeper adoption in payments and settlement.

Resources

• Documentation: https://docs.stable.xyz

• Testnet Faucet: https://faucet.stable.xyz

• Blog: https://blog.stable.xyz/

• X/Twitter: @stable

• Developer Community: https://discord.gg/stablexyz

Thank you for building with Stable.

The next update will follow in two weeks.

Highlight from this edition: Mainnet soon.