Stablecoins To Hit $2 Trillion? US Treasury Hints At Explosive Growth
US Treasury Secretary Scott Bessent projected that dollar-pegged stablecoins could exceed $2 trillion in market cap within a few years, as Congress advances new regulations for backing these tokens. A leading industry group supports this forecast, suggesting issuers may purchase an additional $1 trillion in US Treasury Bills by 2030. Lawmakers have moved forward with an amendment to the GENIUS Act, requiring stablecoin issuers to maintain reserves in high-quality assets, with a final vote expected soon. Currently, the stablecoin market is valued at approximately $255 billion, with dollar-pegged coins constituting about 90% of that total. Concerns exist regarding potential market dominance by a few large players and the risks of tech failures. If stablecoins gain traction in global payments, demand for US debt could increase. However, regulatory balance between safety and innovation is essential for sustainable growth in the sector.
