$76 Billion of Stablecoins Remain Blocked Despite Fed's New Payout Guarantees

The Federal Reserve has proposed new rules for stablecoin issuers, requiring them to guarantee payouts within two business days. However, researchers have found that $76 billion of stablecoins are currently held at centralized exchanges, where customers may face additional hurdles before accessing their funds.

According to a snapshot taken by the Andersen Institute for Finance and Economics in July, $61.5 billion of USDT and $10.1 billion of USDC were held at exchanges. This amount is considered a lower bound, as some exchange wallets cannot be identified.

The proposed Fed rule would require issuers to disclose their redemption procedures and maintain a normal period for redemptions not exceeding two business days. However, the current terms of various stablecoin issuers suggest that customers may still face challenges in accessing their funds.