According to PANews, JPMorgan has expressed skepticism over the projected $2 trillion size of the stablecoin market, describing it as 'overly optimistic.' Analysts from the financial institution highlighted that the current market size of $260 billion might only see a 2-3 times growth in the coming years, which is significantly lower than the U.S. Treasury Secretary's expectation of surpassing $2 trillion by 2028.
The report noted that although the GENIUS Act has established a regulatory framework for stablecoins, the development of payment infrastructure and ecosystems will take time. Currently, USDT and USDC dominate over 60% of the market share, yet stablecoins account for only 1% of global capital flows. Analysts believe that due to investors' conservative approach to cash management, it is unlikely that stablecoins will become a mainstream liquidity alternative in the short term.
JPMorgan emphasized that while stablecoins offer the advantage of instant settlement in cross-border payments, their acceptance is higher among merchants than among ordinary consumers.
