Great growth for stablecoins

Apollo Capital's investment director, Henrik Andersson, agreed with Garlinghouse's prediction, telling Cointelegraph on Thursday: “The market capitalization of $1-2 trillion for stablecoins is in line with our prediction.”

“We are seeing fintechs, banks, social networks, and large retailers launching their own stablecoins.”

Andersson cited Tether's profitability as an example of how lucrative the business can be.

“The next catalyst for the adoption of stablecoins will be the GENIUS Act in the U.S., which will make stablecoins legal tender,” he added.

The stablecoin legislation passed a vote in the Senate in June and is likely to become law this month.

“The SEC's favorable stance towards cryptocurrencies, along with the GENIUS Act, can align the cryptocurrency industry for rapid expansion, with the potential for the stablecoin market to reach a market capitalization of $1-2 trillion in a few years,” said Nick Ruck, director of LVRG Research, to Cointelegraph. #Xrp🔥🔥