Wall Street bank JPMorgan (JPM) says stablecoin market could grow to $600 billion by 2028

JPMorgan Chase & Co. estimates that the stablecoin supply will likely reach between $500 billion and $600 billion by 2028, which is significantly lower than more bullish projections of up to $4 trillion. The bank asserts that current stablecoin demand is predominantly linked to the crypto market, serving as cash or collateral for trading, derivatives, and decentralized finance (DeFi) activities, rather than widespread payment use. While payments could increase demand, JPMorgan suggests that rising velocity—how quickly tokens circulate—might offset the need for a much larger supply. Furthermore, the report notes that banks and payment networks are developing tokenized deposits, and Central Bank Digital Currencies (CBDCs) could offer regulated competition to private stablecoins.

(Source：CoinDesk)