BlockBeats reports that on August 21, a research report published by Goldman Sachs' Will Nance and others pointed out that the current market is at the beginning of a stablecoin 'gold rush'.
The report states: "Stablecoins represent a $271 billion global market, and it is believed that USDC will benefit from its market share growth both within and outside the Binance platform. Ongoing stablecoin legislation is legitimizing this ecosystem, and the crypto ecosystem is also expanding, which may be catalyzed by legislation. Based on current trends and announced initiatives, USDC is expected to grow by $77 billion between 2024 and 2027, with a compound annual growth rate (CAGR) of 40%."
The bank summarized, "Therefore, in the long term, the payments sector is the most obvious source of stablecoin expansion. This opportunity has so far been largely underdeveloped, with most stablecoin activity driven by cryptocurrency trading activities and demand for dollar exposure outside the United States." (Jin Shi)
