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Standard Chartered Bank predicts that the usage of stablecoins may reach 10% of the US M2 and foreign exchange trading

2024-11-28 23:09:45

ChainCatcher news, Standard Chartered Bank and Zodia Markets analysts predict that the adoption rate of stablecoins will significantly increase, potentially accounting for 10% of U.S. M2 transactions in the future.

Geoff Kendrick, Global Head of Digital Assets Research at Standard Chartered Bank, and Nick Philpott, Co-founder of Zodia Markets, stated in the report: "Currently, the scale of stablecoins is only equivalent to 1% of U.S. M2 transactions and 1% of foreign exchange transactions, but as the industry becomes legitimized, reaching 10% on every metric is feasible."

The M2 money supply is a key indicator of the total money supply in an economy, including all currency in circulation and other assets that can be easily converted to cash.

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