Standard Chartered Pushes $2T Stablecoin Forecast to 2030
Standard Chartered now projects the stablecoin market capitalization will hit $2 trillion by 2030, two years later than initially forecast, as transaction volumes grow despite flat supply.
Standard Chartered has pushed its $2 trillion stablecoin market capitalization forecast back to 2030, two years later than its initial projection, according to a report shared with Cointelegraph. The adjustment follows a plateau in the overall market value, which reached roughly $309 billion this year.
Geoffrey Kendrick, the bank's head of digital assets research, noted that stablecoin transaction activity continues to expand despite slower supply growth. Existing stablecoins are changing hands more frequently as use cases diversify across four distinct markets identified by the bank.
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Market Segmentation and Competition
The report highlights varying competitive dynamics across four specific sectors. Tether's USDT dominates emerging-market savings, while Circle's USDC leads developed-market payments. Both USDC and Ethena's USDe hold strong positions in crypto trading, and USDC also leads transactions between AI agents.
Standard Chartered expects the most intense competition in developed-market payments, where new challengers and multibank networks seek alternatives to existing infrastructure. According to Kendrick, how issuers and payment networks divide the yield generated by stablecoin reserves could determine market share.
Regulatory and Accounting Impacts
The revised forecast arrives alongside US regulatory and accounting developments. Following the GENIUS Act passed in 2025, regulators have proposed rules governing issuance, reserves, and consumer protections, alongside Federal Deposit Insurance Corporation proposals excluding stablecoin holders from pass-through deposit insurance.
The Treasury Department advanced rules restricting US stablecoin issuance to authorized entities, with licensing requirements expected by January 2027. Additionally, the Financial Accounting Standards Board proposed updates affecting balance sheet reporting for certain stablecoins.
Key facts
- Standard Chartered expects stablecoin market capitalization to reach $2 trillion by 2030.
- The global stablecoin market capitalization plateaued at approximately $309 billion this year.
- Tether's USDT leads emerging-market savings, while Circle's USDC leads developed-market payments and AI transactions.
- US Treasury licensing rules for stablecoin issuers are expected to take effect in January 2027.
Source: cointelegraph.com
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