Stablecoin Supply To Surge To $2 Trillion, Support USD Hegemony; StanChart

The GENIUS Act, which clarifies US regulations on stablecoins, was cleared by the Senate Banking Committee in March; this paves the way for passage by Congress and presidential sign-off by the summer. US legislation on stablecoins – digital assets that are typically pegged to a fiat currency like the USD and designed to reduce price volatility and facilitate transactions – would further legitimize the stablecoin industry. 

Standard Chartered estimates that this would cause total stablecoin supply to rise from USD 230bn today to USD 2tn by end-2028.