Standard Chartered Predicts the Stablecoin Market Will Hit $2 Trillion by 2030. These Are the 3 Stablecoins Investors Need to Know.
Key PointsThere are more stablecoins than ever, and more will probably be launched.
In a recent report, Standard Chartered predicted that the stablecoin market will grow to a total value of $2 trillion by 2030, up from $299.2 billion in October 2022. Three major stablecoins that investors should be familiar with are Tether (USDT), USDC, and Open USD (OUSD). As of October 2022, Tether held 60.8% of all stablecoin value, with a market cap of $182.3 billion.
Its reserves are slightly riskier than USDC's, as it holds a mix of Treasury bills, gold, Bitcoin, and secured loans. Circle issues USDC, which has a 23.7% market share, and its reserves are composed of government debt maturing within three months, making it more resilient to a run than Tether's. Open USD, the newest major stablecoin, launched on September 30, 2022, with a market cap of only $835 million. It is issued by Bridge, owned by Stripe, and its reserves are held at major financial institutions.
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