Global watchdog warns the $300 billion stablecoin market could face bank runs even with full reserves

The Financial Stability Board (FSB) warned that stablecoins could face redemption crises if, during market stress, reserves become inaccessible across borders. In an Oct. 12 report , the global financial watchdog said stablecoin issuers operating through affiliated entities in different countries could struggle to meet concentrated withdrawal demands when their reserve assets are held elsewhere. The warning comes ahead of an Oct. 15 meeting of G20 finance ministers and central bank governors, as regulators confront growing risks from a stablecoin market valued at approximately $300 billion in mid-2026, with 99% of its value pegged to the US dollar.