Standard Chartered's report indicates that the overall development pace of the stablecoin industry may be faster than previously expected.
Standard Chartered has launched spot trading services for Bitcoin and Ethereum through its institutional cryptocurrency platform, further expanding its business footprint in the digital asset space as U.S. regulators and investors sharply increase their focus on stablecoins.
Prior to this business launch, Geoffrey Kendrick, head of digital asset research at Standard Chartered, held several high-level meetings in Washington, New York, and Boston from July 7 to 11, engaging with crypto-native enterprises, Bitcoin miners, funds, and policymakers.
According to Kendrick, despite Bitcoin prices reaching new highs, nearly 90% of the discussions have focused on stablecoins.
With the U.S. bill (GENIUS Act) aimed at establishing clear rules for digital assets backed by fiat currency nearing passage, interest in stablecoins in the market has sharply increased.
Kendrick stated that the bill could officially take effect as early as this week, paving the way for the rapid expansion of the U.S. stablecoin market and promoting its wider application among financial institutions and public sector entities.
Kendrick noted that clients predict that by the end of 2026, the stablecoin market size will reach $750 billion, while as of July 15, this figure was approximately $250 billion.
As regulatory policies become clearer, the issuance of stablecoins is expected to expand significantly, potentially including not only large financial institutions but also regional banks and local governments exploring the issuance of tokenized cash instruments.
In addition to application promotion, discussions also covered macroeconomic impacts: potential changes to the U.S. Treasury yield curve, the long-term effects on dollar liquidity, reforms to the U.S. payment system, and the financial stability risks that stablecoins pose to emerging markets.
Standard Chartered's report indicates that the overall development pace of the stablecoin industry may be faster than previously expected.
Kendrick emphasized that another piece of legislation (Digital Asset Market Transparency Act) may pass by the end of September or early October, which could accelerate the tokenization of RWA and the integration of DeFi infrastructure.
On-chain data shows that the stablecoin balances of all wallet sizes (including centralized exchanges, DeFi platforms, and medium-sized retail wallets) continue to grow, indicating that the use cases for stablecoins are expanding and global demand is increasing.
Kendrick's research findings and the launch of Standard Chartered's trading platform reflect a key shift in institutional cryptocurrency strategy. While Bitcoin's position as a store of value remains solid, the current infrastructure and policy agenda have clearly positioned stablecoins as a core pillar of programmable currency.
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