Standard Chartered "Stablecoins Could Grow Tenfold to $2 Trillion if US Legislation Passes"
Summary
- Standard Chartered reported that US legislation on stablecoins could significantly change the future virtual asset market.
- According to the report, if a regulatory framework is established, the stablecoin market size could increase tenfold to $2 trillion.
- The passage of the legislation could accelerate the integration of the stablecoin industry into the institutional framework, promoting increased demand for US Treasury bonds and strengthening the dollar's hegemony.
Standard Chartered Bank predicts that US legislation on stablecoins could shake up the virtual asset (cryptocurrency) market.
According to Bloomberg on the 17th (local time), Standard Chartered recently reported that "if a regulatory framework for stablecoins is established in the US within the next three years, the stablecoin market size could increase tenfold to $2 trillion (approximately 2,837 trillion KRW)."
Geoff Kendrick, Global Head of Digital Assets Research, who authored the report, stated, "Stablecoins are digital assets designed to reduce price volatility and increase transaction convenience by being linked to fiat currencies like the US dollar," and analyzed that "the passage of related legislation could accelerate the integration of the stablecoin industry into the institutional framework, leading to increased demand for US Treasury bonds and strengthening the dollar's hegemony."
Suehyeon Lee
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