Standard Chartered: Stablecoin Market Size Could Reach $2 Trillion by End of 2028

Jinse reported that Standard Chartered Bank stated that the passage of U.S. stablecoin legislation could lead to a substantial increase in the supply of stablecoins, projecting the market size could grow from the current $230 billion to $2 trillion by the end of 2028. Additionally, Standard Chartered noted that the increase in stablecoin supply could impact U.S. Treasury purchases and reinforce dollar hegemony. Furthermore, Standard Chartered Bank believes that the increased demand for reserves of dollar-denominated stablecoins will lead to additional demand for the dollar, thereby supporting dollar dominance. The stablecoin industry is expected to shift towards the model adopted by USDC issuer Circle.