Editor's PiCK
US Treasury Forecasts 'Stablecoin Market Cap to Reach $2 Trillion by 2028'
Summary
- The US Treasury forecasts that the market capitalization of stablecoins will reach $2 trillion by 2028.
- Stablecoins are widely used like cash and are functioning as a new means of payment.
- The proliferation of stablecoins may pressure retail banks to offer higher interest rates to depositors.
The US Treasury has projected that the market capitalization of stablecoins will expand to $2 trillion by 2028.
In a report released on the 30th (local time), the US Treasury stated, "Due to changing market trends, the growth trajectory of stablecoins is accelerating, and there is a possibility that the market cap could reach approximately $2 trillion by 2028." The current market capitalization of stablecoins is about $230 billion. The report described stablecoins as "widely used like cash on the chain" and "functioning as a new means of payment."
The connection between stablecoins and US Treasury bonds was also emphasized. The US Treasury noted, "Stablecoin issuers must hold (US short-term) Treasury bonds," and "the proliferation of stablecoins may pressure retail banks to offer higher interest rates to depositors."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul![[Today’s Key Economic & Crypto Calendar] Atlanta Fed GDPNow, More](https://media.bloomingbit.io/static/news/brief_en.webp?w=250)
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