A new paper from Citi Institute forecasts the issuance of stablecoins reaching up to $3.7 trillion by 2030 in a bullish scenario that assumes minimal hurdles along the way. It also provided a base prediction of $1.6 trillion, which is less than the $2.4 trillion forecast from the Boston Consulting Group.
The Citi numbers are based on several factors such as the proportion of cash that switches to stablecoins both domestically and globally, as well as bank balances and term deposits. Further adoption of blockchain and cryptocurrency will make up the largest proportion of stablecoin balances in all scenarios.
While there are potential tailwinds from US and EU stablecoin legislation, the document highlights that more positive factors are required in order to achieve the optimistic case, including favorable legislation in other jurisdictions.
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