Standard Chartered projects the stablecoin market will reach $2 trillion in capitalization by 2028, roughly 5x its current size. The bank highlights that stablecoin turnover is accelerating faster than previously modeled, with AI-enabled payments emerging as a key new use case alongside traditional crypto trading and cross-border transfers.
A $2 trillion stablecoin market would require massive purchases of short-term US Treasuries as backing — making stablecoin issuers among the largest T-bill buyers on the planet, which has ripple effects on money markets. For crypto investors, rising stablecoin velocity signals more liquidity flowing through on-chain ecosystems, which historically correlates with broader crypto asset price appreciation. Infrastructure plays — blockchains that process stablecoin transactions — stand to benefit most directly.
July 2025: US Senate vote expected on the GENIUS Act stablecoin regulation bill. Ongoing: Monthly stablecoin supply reports from DeFiLlama and The Block Research tracking whether the $2T trajectory is on pace.
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