Standard Chartered Forecasts $1 Trillion Flow Into Stablecoins From Emerging Markets: Report
Synopsis
According to a note to investors by Standard Chartered’s Geoffrey Kendrick and Madhur Jha, cited by TheBlock, roughly two-thirds of the current stablecoin supply may already function as savings in emerging-market bank accounts.
Standard Chartered reportedly estimated that up to $1 trillion could move from emerging-market bank deposits into stablecoins over the next three years.
According to a note to investors by Standard Chartered’s Geoffrey Kendrick and Madhur Jha, cited by TheBlock, they described these tokens as “USD-based bank accounts” for many users in emerging markets.
The firm projected the global stablecoin market could reach $2 trillion by the end of 2028. It estimated that roughly two-thirds of the current stablecoin supply may already function as savings in emerging-market bank accounts.
The overall stablecoin market crossed $300 billion in market capitalization last week.
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