US Stablecoin Market Could Reach $2 Trillion by 2028, Here’s the Data!

Jakarta, Pintu News – According to US Treasury Secretary Scott Bessent, the stablecoin market in the United States is expected to surpass a total market capitalization of $2 trillion by the end of 2028. This was made during a Senate Appropriations Committee hearing that took place on Wednesday.

Bessent emphasized that with the right regulatory framework, the adoption of US dollar-backed stablecoins could increase tenfold in the next three years.

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GENIUS Act Legislation as a Catalyst

The GENIUS Act, which just received approval from the Senate, is expected to be a major key in the expansion of the stablecoin market. The law requires stablecoins to be fully backed by US dollars or liquid assets. In addition, stablecoin companies with a market value of more than $50 billion must undergo annual audits.

This will add investor confidence and clarify the rules for stablecoins issued outside the US. President Donald Trump has expressed his support for the GENIUS Act and plans to sign it into law before August 2025. This support will hopefully strengthen the US dollar’s position in the global digital economy.

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US Dollar Strengthening Through Digital Innovation

Bessent, who has a background in hedge fund strategy and foreign exchange, emphasized that stablecoins could be a new mechanism to strengthen the US dollar’s status as the global reserve currency. According to him, whenever the status of the US dollar is questioned, new dynamics always emerge to reinforce its strength.

Backing these digital tokens with high-quality assets such as US government securities will boost investor confidence and encourage the adoption of digital dollars globally. This will also help in maintaining the dollar’s dominance in the global market.

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Market Projections and Preparation

While Bessent’s $2 trillion projection sounds optimistic, analysts from Citigroup have also estimated that stablecoin issuers could buy more than $1 trillion in US securities by 2030, even under a more conservative scenario. This shows that high expectations for the growth of the stablecoin market are supported by analysis from major financial institutions.

Companies like Circle, which is behind USDC, recently went public and its shares jumped 235% on the first day. Bank of America and other big players are also preparing to launch their stablecoins, as the regulatory picture becomes clearer.

Conclusion

With legislative progress and support from various parties, the stablecoin market in the US looks set to experience significant growth. This will not only strengthen the position of the US dollar but will also shape the future of global finance. With strong support from liquid assets and clear regulation, the future of stablecoins looks bright.

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Reference

• Crypto Times. US Stablecoin Market May Hit $2 Trillion by 2028: Treasury Secretary. Accessed on June 13, 2025
• Featured Image: Generated by Ai