This Crypto ‘Killer App’ Could Grow 1,000% Under A Trump Administration: Report
Posted On November 29, 2024
A new report indicates that stablecoins, currently a $163 billion market, could grow to represent 10% of the U.S. money supply, hinging on regulatory clarity, which appears increasingly likely under the incoming Donald Trump‘s administration.
What Happened: “Stablecoins have the potential to revolutionize global financial systems, bridging gaps that traditional methods struggle to address,” the report by Zodia Markets and Standard Chartered states.
Presently, stablecoins constitute less than 1% of the U.S. M2 money supply and foreign exchange transactions.
However, their scalability and utility in cross-border payments, remittances and savings position them as a transformative digital asset class.
The …