Stablecoin Could Reach 1 Trillion USD by 2030: Report

According to a joint report from the crypto market maker Keyrock and the exchange Bitso in Latin America, stablecoin payments could be worth more than $1 trillion annually by 2030. The report shared on Thursday indicated that this prediction will emerge as more and more businesses, payment companies, and individuals are starting to use stablecoins for transactions.

Stablecoin is on track to achieve a payment of 1 trillion USD Stablecoin is a type of digital currency pegged to real money, such as the US dollar, that helps maintain a stable value. Reports indicate that stablecoins are attracting users because they are cheaper and faster than traditional payment methods. For example, sending $200 via bank can cost up to 13% in fees and take several days for the recipient to receive the money, while a stablecoin transaction can be completed in a few seconds at a cost of only a small fraction. Authors view the forex market, where $7.5 trillion is traded daily, as a great opportunity. Today, most of these transactions are settled two days after the trade ( known as T+2) through a chain of banks. Stablecoins can make this much faster by allowing direct swaps between currencies, with shorter wait times and lower risks. Banks May Need to Catch Up The report also states that stablecoins could completely change cross-border payment operations. With clear rules, a better functioning system, and sufficient liquidity, stablecoins could handle up to 12% of the total global cross-border payment volume by the end of this decade. The report states: "Assuming the current challenges regarding regulation, liquidity, and interoperability are addressed, stablecoins could account for [approximately] 12% of global cross-border payment volume by 2030." The Big Names That Have Joined the Race As of 2024, stablecoins account for less than 3% of the global remittance market worth $195 billion, but the authors predict that this figure will increase rapidly. Both believe that the key lies in tighter management and an increasing number of companies participating. Meanwhile, some of these conditions have begun to take shape. In July, President of America Donald Trump signed the Genius Act into law, legally recognizing stablecoins (stablecoin). In addition, in Europe, the regulations regarding the Crypto Asset Market (MiCA) currently provide a framework for the compliant use of stablecoins across the bloc. These changes are attracting many new participants, including fintech companies, payment processors, and even traditional banks, all competing with leading crypto companies such as Tether and Circle. Both companies are expanding by launching their own blockchains to derive more value from transactions. Payment company Stripe is said to be collaborating with MetaMask to develop a blockchain, and Circle has recently launched its own blockchain called Arc. Devere Bryan, the CEO of First Digital, the company behind the stablecoin FDUSD, stated: "In the long run, we believe that every financial institution will have to support stablecoin infrastructure in some form." The stablecoin market currently has a value of over 260 billion dollars and may soon impact global monetary policy.