Standard Chartered pushes $2T stablecoin forecast to 2030 as transaction volumes grow
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Standard Chartered has revised its forecast for stablecoin market capitalization, now expecting it to reach $2 trillion by 2030, two years later than initially projected. The bank reports that stablecoin transaction activity is growing even as overall market value has plateaued, indicating more frequent circulation of existing stablecoins rather than new supply driving growth. Geoffrey Kendrick, Standard Chartered’s head of digital assets research, highlights diversified use cases and outlines different market segments dominated by stablecoins like Tether’s USDT and Circle’s USDC.
Why it matters
The report suggests that despite a stalled market capitalization, stablecoins are increasingly used across various sectors, pointing to evolving demand and liquidity rather than just expansion of supply. Regulatory and accounting developments in the United States, such as the GENIUS Act and proposed FDIC insurance exclusions, could influence stablecoin usage and issuance, affecting how businesses and financial networks operate within this space.
Key context
The stablecoin market plateaued at about $309 billion in 2024, with increased transaction frequency among existing tokens driving activity growth. The bank identifies four main markets for stablecoins: emerging-market savings (dominated by USDT), developed-market payments (led by USDC), crypto trading (where USDC and USDe are strong), and transactions between AI agents (small and led by USDC). U.S. regulatory changes since the 2025 GENIUS Act and proposed licensing rules effective in 2027 are expected to shape stablecoin issuance, while new accounting rules could facilitate easier business adoption.
Key numbers and entities
Standard Chartered, Geoffrey Kendrick (head of digital assets research at Standard Chartered), Tether (USDT), Circle (USDC), Ethena (USDe), FDIC, U.S. Treasury Department, Financial Accounting Standards Board (FASB), Tempo (blockchain payments company). Market capitalization plateaued at roughly $309 billion. Forecast revised to $2 trillion by 2030.
What remains unclear
The report does not specify the detailed timeline or conditions under which stablecoins will achieve the $2 trillion capitalization. It also does not provide precise impacts of the proposed U.S. regulations and accounting changes on stablecoin issuance and market dynamics. Further details about the competitive strategies or adoption rates of emerging stablecoin challengers in developed market payments remain unspecified.