The Stablecoin market could begin to remodel traditional finances if it grows to around $ 750 billion, according to Geoff Kendrick, head of Standard Chartered digital assets.
Kendrick, writing on a note on Tuesday after a one -week trip through Washington, New York and Boston, said there is a growing consensus among the actors in the cryptocurrency industry, fund managers and policy formulators that this $ 750 billion brand would be the turning point in which the clouds of the issuance of government debt, monetary debt, monetary policy American treasury through the demand for pure.
The current market of Stablecoin is approximately $ 240 billion. But Kendrick’s contacts hope that he can more than triple at the end of 2026, promoted by the use of regulatory use and clarity, particularly if the Bipartidist Genius Law becomes law, a movement that could occur as soon as next week.
“In the USA, once the Stablecoin market reaches a certain size, the amount of T-Bills required to support the stable, will probably require a change in the planned issuance through the curve towards a greater emission of T-Factor T, an emission of less long holders,” Kendrick wrote. “This potentially has implications for the shape of the United States Treasury Performance curve and the demand for USD assets.”
STABLECINS: Cryptocurrencies designed to maintain a fixed value, generally $ 1, are generally backed by cash -equivalent reserves, often debt of the United States government in the short term. As demand increases, so does the need to maintain large amounts of treasure invoices, placing Stablecoins in a potential collision course with traditional fixed income markets.
Kendrick met with a cross section of market participants during their visit to the United States, including Bitcoin miners, crypto-national companies, traditional coverage funds and policy formulators, he said. His almost unanimous approach: Stablcoins.
Market participants expect a Stablecoin broadcast wave, not only of cryptographic signatures, but possibly of banks and even local governments.
Emerging markets can be the most affected immediately. Kendrick marked the concerns that people in these regions are using stablcoins as a digital savings vehicle, removing capital from local banking systems and the reserves of the Central Bank. That could challenge financial stability in countries that depend on the liquidity of the US dollar to manage fixed exchange rates or capital controls.
In the United States front, Stablecoins could move away the corporate treasure bonds from traditional bank alternatives. But how much of their cash business they move in the chain, and how fast, it is still uncertain.
The growing attention is reflected in public markets. Circle actions (CRCL)The USDC Stablecoin issuer has increased 540% since its public debut last month. The previous period indicates the confidence of investors in Stablecoins as a central pillar of the next phase of digital finance.
