Bank Predicts Stablecoin Explosion: $2 Trillion by 2028? You Won’t Believe Why!

by

In a feat of prophesying that would make even Nostradamus blink, Standard Chartered Bank has taken a look at its tea leaves – or, more accurately, its abacus – and deduced that should the oh-so-coyly-named GENIUS Act pull itself together and make it to the finish line later this year, stablecoin supply will multiply faster than rabbits at an all-you-can-eat carrot buffet, ballooning nearly tenfold by 2028. Hold tight to your monocles! 🧐

Standard Chartered Predicts $2 Trillion Stablecoin Market by 2028

The financial wizards of Standard Chartered, comfortably ensconced in their London lair, have fired off a research dispatch predicting that stablecoins may soar out of obscurity and, with all the pomp of a Victorian debutante, burst forth upon society to the extravagant tune of $2 trillion by the end of 2028 – all thanks to the GENIUS Act, should it pass.

Meanwhile, Congress, suspiciously eager to keep names as unwieldy as their legislation, is juggling two bills: the Senate’s GENIUS Act (clearly trying to flatter themselves) and the House’s STABLE Act (because “sound money, no drama” wasn’t available). Reports suggest that President Donald Trump (who seems to have a very busy summer schedule) plans to sign both into law before Congress hightails it to its August holiday. ⛱️

Assuming Capitol Hill does in fact take a break from the fine art of gridlock just long enough to push these bills through, Standard Chartered expects non-trade-related stablecoin transactions to double their annual growth rate from a mere 50% to a stonking 100%. Picture stablecoins multiplying as enthusiastically as unpaid interns at a blockchain conference. This would catapult the sector to the $2 trillion stratosphere, a climb from the current $230 billion that probably has banks everywhere nervously fanning themselves.

hold onto your digital wallets, chums.

The report doesn’t stop at numbers, though! With a subtle nod to global intrigue, it suggests stablecoins might just revive the flagging fortunes of the U.S. dollar after Trump’s tariff-tightening had world markets cringing like badly cooked soufflés. Given that most stablecoins are USD-pegged, a $2 trillion market would mean more demand for good ol’ George Washington. Lucky for him, he won’t have to lift a finger.

As the scribes at Standard Chartered put it, “As stablecoin usage increases, this additional source of USD demand should support USD hegemony.” The report even claims that all this digital coinage could serve as a “medium-term offset against the current threat to USD hegemony on the back of tariff concerns.” One can only hope the dollar is having a quiet gin and tonic somewhere and gearing up for its second act. 🍸

Read More

2025-04-16 01:29