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Standard Chartered Delays $2 Trillion Stablecoin Market Forecast to 2030

(3 hours ago) · 1 source · Summarized by CryptoBipto

Standard Chartered has pushed back its forecast for the stablecoin market reaching $2 trillion in total supply from an earlier target date to 2030, citing a slowdown in stablecoin supply growth. The bank had previously projected faster growth but has revised its timeline as market conditions have shifted.

WHY IT MATTERS

Stablecoins are a type of cryptocurrency designed to maintain a steady value, usually pegged one-to-one with a traditional currency like the US dollar. Think of them like digital dollars that live on a blockchain. They are important because they serve as a bridge between traditional money and the crypto world, making it easier to trade, send money across borders, and use decentralized applications. When a major bank like Standard Chartered makes a forecast about the stablecoin market, it signals that traditional finance is paying close attention to this part of crypto. The fact that the bank pushed back its timeline suggests that stablecoin growth has not been as fast as some expected, which could reflect challenges like regulatory uncertainty or reduced demand.

Standard Chartered, one of the major global banks that has been actively covering the crypto sector, has revised its projection for when the stablecoin market will reach $2 trillion in total supply.

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SOURCES

  • theblock.co

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