[ECB: Stablecoin Market Value Reaches $280 Billion, Potentially Triggering Risks; Cross-Border Regulatory Arbitrage Becomes a Concern] Odaily Planet Daily reports that according to the latest *Financial Stability Report* from the European Central Bank, the global stablecoin market value has risen to $280 billion, accounting for approximately 8% of the total cryptocurrency market capitalization. The rapid growth of stablecoins, their substantial holdings in short-term U.S. Treasury bonds, and their high correlation with traditional finance could lead to risks such as de-pegging, bank runs, and cross-market shocks to financial stability. The ECB specifically warns that cross-border regulatory arbitrage may result in issues like insufficient reserves for EU issuers. It recommends further strengthening global regulatory coordination and implementing the G20 stablecoin regulatory roadmap to mitigate spillover risks.