Stablecoins on track for $2T market cap by 2028 — US Treasury

US Dollar-pegged stablecoins are on track to reach an aggregate market capitalization of approximately $2 trillion by 2028, according to the United States Department of the Treasury’s Q1 2025 report. Stablecoins’ cumulative market cap currently stands at roughly $230 billion, but “[e]volving market dynamics [have] the potential to accelerate stablecoins’ trajectory to reach ~$2tn in market cap by 2028,” the Treasury said in the April 30 report.  A stablecoin is a cryptocurrency whose value is pegged to a traditional asset like the US dollar. According to the report, such tokens are already “ubiquitously utilized as ‘cash on-chain,’ effectively serving as a new payment mechanism source: https://cointelegraph.com/news/stablecoins-on-track-for-2-t-market-cap-by-2028-us-treasury?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound