Cryptocurrencies
Stablecoin $2 Trillion Forecast Is ‘Optimistic,’ JPMorgan Says
The stablecoin market has grown significantly over recent years, with Tether Holdings SA’s USDT and Circle Internet Group Inc.’s USDC accounting more than 60% of the market.
Photographer: Michael Nagle/BloombergThe eye-catching $2 trillion projection for the potential growth of the stablecoin market that was often cited during the recent push to approve US regulation of the crypto market for the first time is “a little bit optimistic,” according to JPMorgan Chase & Co.
Last month, Treasury Secretary Scott Bessent said during a Senate hearing that the sector could even exceed that estimate by 2028 provided there is legislative support. That would be almost roughly eight times the current $260 billion market value of all stablecoins.