Bitwise CIO Says Stablecoins Could Reach $4 Trillion With Big Tech Payments Push

Suehyeon Lee

Summary

Bitwise CIO Matt Hougan said Meta and DoorDash's stablecoin payment pilots could become a key use case for the sector.
He said Big Tech adoption of payments could expand the stablecoin market from the hundreds of billions of dollars today into the trillions.
Citi has projected that the stablecoin market could reach $4 trillion by 2030 under an optimistic scenario.

Forecast Trend Report by Period

Stablecoins could grow into a multi-trillion-dollar market if big technology companies such as Meta Platforms Inc. and DoorDash Inc. expand their use in payments, according to Bitwise Chief Investment Officer Matt Hougan.

Hougan wrote on May 7 that stablecoin payment pilots under way at DoorDash and Meta could become one of the technology’s core use cases. Adoption by big tech companies in payments could expand the stablecoin market from the hundreds of billions of dollars today into the trillions, he added.

The stablecoin market is currently worth about $318 billion. Citi has projected that the market could reach $4 trillion by 2030 under an optimistic scenario.

Bitwise said broader real-world use is the key condition for further growth in stablecoins. Demand needs to move beyond cryptocurrency trading and into everyday uses such as payments and remittances. The firm added that participation by large platform companies will be critical, particularly for reaching hundreds of millions of users.