Standard Chartered pushes $2T stablecoin forecast to 2030 as transaction volumes grow
The bank identified four distinct stablecoin markets, with USDC leading payments and AI transactions as competition intensifies over reserve yields.
Standard Chartered predicts the stablecoin market could reach $2 trillion by 2030, two years ahead of its previous projection, despite the market's current stagnation. The bank identifies four distinct stablecoin markets, with Tether's USDt dominating emerging-market savings, Circle's USDC leading developed-market payments, and USDC and Ethena's USDe thriving in cryptocurrency trading.
Kendrick, StanChart's digital assets research head, notes that existing stablecoins are being circulated more frequently as their use cases expand, rather than new supply driving growth. Competition in developed market payments is expected to intensify, with challengers like USDG, M^0 and multibank stablecoin networks seeking alternatives to traditional payment infrastructure.
The bank's revised forecast aligns with regulatory developments in the United States, where the GENIUS Act has prompted proposed rules on stablecoin issuance, reserve requirements, and consumer protections.
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