Big Tech Stablecoin Tests Could Help Push Market to $4 Trillion by 2030, Bitwise Says

A string of stablecoin experiments by big tech companies could help drive the market to $4 trillion by 2030, according to Bitwise.

Matt Hougan, the asset manager’s chief investment officer, wrote in a May 5 investor memo that large technology companies’ tests of stablecoin payouts could expand the market from about $300 billion today to $4 trillion by 2030, The Block reported on May 6. While Meta Platforms Inc. and DoorDash Inc.'s payment pilots are still small in absolute terms, they have strengthened his conviction that stablecoins can grow into a multi-trillion-dollar market.

DoorDash is testing stablecoin-based settlement in more than 40 countries in partnership with US fintech company Stripe. Meta is also testing stablecoin settlement for creators in the Philippines and Colombia using the Solana (SOL) and Polygon (POL) blockchains.

Hougan cited simplicity as the main advantage of stablecoin payment systems. For global companies, the benefits go beyond cutting costs: a single wallet address can handle millions of small payments without requiring local banking infrastructure or foreign-exchange conversion in each country.

Global technology companies with gig workers spread around the world are likely to follow Meta and DoorDash, he added. That process could bring millions of users into the crypto ecosystem.

Global stablecoin supply has already exceeded $300 billion. Dollar-denominated stablecoin supply stood at about $302 billion as of May 6, according to The Block.