PANews reported on April 25 that according to The Block, Citigroup's report on Thursday suggested that blockchain technology might experience a "ChatGPT moment" this year, driven by stablecoin applications. The bank predicts that by the end of this decade, the total market value of stablecoins could surge more than tenfold from the current approximately $240 billion to over $20 trillion. In the baseline scenario, stablecoin circulation could reach $1.6 trillion by 2030, and in an optimistic scenario, it could reach $3.7 trillion. The report emphasizes that under regulatory changes, the adoption of stablecoins by the financial and public sectors could drive a historic transformation of the cryptocurrency market. However, if the adoption and integration of stablecoins encounter obstacles, their market value might only reach $500 billion. Citigroup also stated that if a US stablecoin regulatory framework is established, it could generate new demand for US Treasury bonds, with stablecoin issuers potentially becoming one of the main holders of US Treasury bonds by 2030. Currently, Tether, the world's largest stablecoin issuer, has already held billions of dollars in US Treasury bonds. Additionally, stablecoins might threaten traditional banking ecosystems through deposit alternatives, with some banks lobbying legislators to restrict the types of issuers of US dollar-pegged tokens.
