Bank of America: The disruptive application of stablecoins in cross-border P2P payments could generate up to $75 billion in annual demand for U.S. Treasuries.

[Bank of America: The Disruptive Application of Stablecoins in Cross-Border P2P Payments Could Generate Up to $75 Billion in Annual U.S. Debt Demand] Bank of America’s latest research report deeply analyzes the potential transformative power of stablecoins in the financial system, pointing out that although this digital asset faces regulatory controversies, it has already demonstrated unique advantages in areas such as cross-border transactions and retail settlements. The report clearly states that cross-border person-to-person ( P2P ) payments are the most disruptive application scenario for stablecoins—compared to traditional banking systems, their settlement efficiency and cost advantages are significant, which may become an important channel for fund flows in emerging markets. Notably, Shopify’s move to allow merchants to accept USDC stablecoins has been seen as a landmark event for retail penetration, while the recent on-chain repurchase transaction of UST tokenized bonds further highlights institutional investors’ recognition of the settlement functionality of stablecoins. In terms of market demand, Bank of America estimates that the potential demand for stablecoins for U.S. Treasury bonds in the next 12 months could reach between $25 billion and $75 billion, but in the short term, it is insufficient to reverse the supply-demand pattern in the Treasury bond market.