Stablecoin Sector May Reach $2 Trillion: Standard Chartered (1)

Standard Chartered Bank estimates the size of the stablecoin market could surge by about 10-fold to $2 trillion within the next three years after the expected passage of US legislation that seeks to provide a regulatory framework for the cryptocurrencies.

That would likely require an extra $1.6 trillion in short-term Treasuries to be held in reserve by stablecoin issuers, or the total amount of new T-bills to be sold over that time, analysts at the London-based bank wrote in a report Tuesday. The entire crypto market value is currently estimated at around $2.68 trillion.

“US legislation on stablecoins — ...