A joint report by Standard Chartered and Zodia Markets research suggests significant growth potential for stablecoins. Currently representing just 1% of US money supply and foreign exchange operations, experts project that stablecoins could expand to 10% of these transactions. Stablecoins have evolved beyond their original role in cryptocurrency trading and are increasingly being used in cross-border payments, trade settlements, and remittances. They address inefficiencies in existing financial systems, offering faster and cheaper transactions. Regulation is seen as the key to unlocking stablecoins' full potential, with a potential for a Trump-led government in 2025 prioritizing stablecoin-specific policies. USD-backed stablecoins dominate the market, with Tether (USDT) leading in market share. A YouGov survey found that stablecoins are being used for currency substitution and cross-border payments in emerging markets.



Other News from Today