Standard Chartered Bank: The market capitalization of stablecoins is expected to reach $2 trillion by the end of 2028, potentially becoming one of the largest buyers of U.S. Treasuries.

SmartContractAuditor · 2026-02-23T11:21:57+00:00

Standard Chartered's research indicates that stablecoin issuers are expected to become major buyers of U.S. Treasuries. By the end of 2028, the stablecoin market capitalization is projected to reach $2 trillion, generating approximately $0.8 to $1 trillion in additional U.S. Treasury demand, potentially reshaping the way the U.S. government finances itself.

SmartContractAuditor

2026-02-23 11:21:57

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Odaily Planet Daily reports that Standard Chartered’s latest research indicates that stablecoin issuers are expected to become some of the largest buyers of U.S. Treasuries, which could reshape the U.S. government’s financing methods over the next few years.

The analysts, led by Geoffrey Kendrick, Head of Global Digital Asset Research at Standard Chartered, and John Davies, U.S. Interest Rate Strategist at Standard Chartered, stated that they still expect the market capitalization of stablecoins to reach $2 trillion by the end of 2028. This expansion will bring approximately $0.8 trillion to $1 trillion in additional demand for U.S. Treasuries, as issuers will accumulate short-term government bonds as reserve assets. Stablecoin issuers are becoming the largest buyers of U.S. Treasuries.

They also added that if the issuance model remains unchanged, this demand could lead to an excess demand of about $0.9 trillion for government bonds over the next three years. (The Block)

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