The market size of stablecoins has exceeded $230 billion, growing nearly 30 times in the past five years.

Original Source: cryptoslate

Translation: Blockchain Knight

The stablecoin sector is entering a period of accelerated application, comparable to the early growth of generative AI tools like ChatGPT, with expectations that its market value could surpass $1.6 trillion by 2030.

According to a new report released by Citigroup's Global Insights and Solutions division on April 24, the application scenarios for stablecoins are now expanding from the crypto asset domain to broader financial and public sector areas.

Supporting factors for this shift include increased regulatory clarity, heightened institutional interest, and global market demand for dollar-denominated digital assets.

The report draws a parallel between the early adoption phase of ChatGPT and the current growth phase of stablecoins, suggesting that 2025 will be a turning point for the further integration of stablecoins into the global economic system.

In Citigroup's optimistic forecast scenario, by 2030, the total market value of stablecoins could exceed $3.7 trillion. Currently, the market size of stablecoins has surpassed $230 billion, growing nearly 30 times in the past five years.

Institutional Demand and Macro Drivers

The Citigroup report points out that progress in regulation, particularly in the U.S. and Europe, is a key factor driving the expansion of stablecoins beyond their original roles in crypto asset trading and DeFi.

At the beginning of 2025, the U.S. introduced new legislation aimed at establishing a legal framework for the issuance and reserves of stablecoins. Meanwhile, the EU's Markets in Crypto-Assets Regulation (MiCA) has also set standards across the EU.

This positive regulatory progress aligns with the demand from emerging markets. In emerging markets, access to dollars is limited, and financial institutions are exploring the use of stablecoin infrastructure for payments, settlements, and liquidity management.

The report notes that banks and payment providers are beginning to integrate stablecoins into the existing financial system, breaking the previous limitation of stablecoins being confined to native applications in crypto assets. Citigroup specifically predicts that the demand for stablecoins will create new purchasing demand for U.S. Treasury securities.

By 2030, the amount of U.S. Treasury securities held by stablecoin issuers using safe, liquid assets as reserves could exceed that of any existing foreign jurisdiction. In Citigroup's baseline forecast scenario, this would add over $1 trillion in demand to the U.S. Treasury market.

Application Scenarios Beyond Crypto Assets

Although crypto asset trading remains the largest application scenario for stablecoins, accounting for about 95% of current stablecoin trading volume, Citigroup predicts that the use of stablecoins in B2B cross-border payments, consumer remittances, and institutional capital market activities will also see growth.

Emerging markets such as Argentina, Nigeria, and Turkey are also driving the adoption of stablecoins in the retail sector, as stablecoins can serve as a hedge against inflation and currency volatility. Meanwhile, due to lower costs and faster settlement speeds, remittance channels are gradually shifting from traditional methods to stablecoin-based remittance methods.

At the institutional level, large asset management firms and fintech companies are piloting stablecoin-based fund settlements, fund operations, and liquidity provision services, reflecting their confidence in the stablecoin infrastructure and regulatory environment.

Citigroup compares the potential development trajectory of stablecoins to that of the card payment industry, suggesting that while a few dominant issuers may emerge, national participants and public-private partnership models are also expected to proliferate.

This may be similar to the rise of regional card networks in countries like Brazil and India, where local regulations support domestic financial sovereignty. The report emphasizes that trust, reserve transparency, and user experience are key factors determining which stablecoins can achieve mainstream penetration.

The report also notes that the long-awaited regulatory clarity has removed one of the biggest obstacles for the industry, allowing both existing participants and new entrants to build services on a more predictable legal foundation.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。