"If the US Stablecoin Bill Passes, Supply is Expected to Increase by About 10 Times"

JH Kim

Summary

Standard Chartered reported that if a stablecoin-related bill passes in the US, the supply is expected to increase by about 10 times to reach $2 trillion by 2028.
Analyst Geoffrey Kendrick stated that "the enactment of the bill will incorporate the stablecoin industry into the institutional framework and accelerate its adoption."
He explained that "the growth of the stablecoin industry could act as a major buyer of US Treasury bonds, impacting the US Treasury's reserve purchases and dollar hegemony."

Standard Chartered (SC) predicted that if a stablecoin-related bill passes in the United States, the supply of the coin will increase by about 10 times to reach $2 trillion by 2028.

According to The Block, a virtual asset (cryptocurrency) specialized media, on the 15th (local time), Standard Chartered analyst Geoffrey Kendrick expects the US stablecoin regulatory bill 'GENIUS Act' to take effect this summer, stating that "the bill will incorporate the stablecoin industry into the institutional framework and accelerate its adoption."

He added, "Accordingly, the supply of stablecoins is expected to reach $2 trillion by the end of 2028 from the current level of about $230 billion."

Additionally, he explained, "This growth could directly impact the US Treasury's reserve purchases and dollar hegemony, and the stablecoin industry will need to purchase about $1.6 trillion (annually $400 billion) of US Treasury bonds over the next four years," showing that "the stablecoin industry could become one of the major buyers of US Treasury bonds."