Global Stablecoin (GSC)
A term used by international financial regulators for a stablecoin with a user base and transaction volume large enough to pose systemic risk.
Global Stablecoin (GSC) is a term used by bodies like the Financial Stability Board (FSB) — an international body that monitors and makes recommendations about the global financial system — for a stablecoin whose potential adoption and transaction volume are large enough that a failure could have knock-on effects across the broader financial system, not just its own users.
The category exists because a stablecoin used by hundreds of millions of people for payments would pose materially different risks than a niche one used mostly for DeFi trading — regulators in multiple countries have proposed extra capital, reserve, and oversight requirements specifically for stablecoins that reach this scale, on top of whatever baseline stablecoin rules already apply.