- The market for stablecoins will reach the $2.8 trillion mark, analysts say.
- The coins, which are pegged to the dollar, support better than other cryptocurrencies, experts said.
In the future, global financial and consumer platforms will start issuing joint stablecoins, Coindesk reported, citing a report by broker Bernstein Bank.
According to experts, the market for “stablecoins” is valued at $125 billion today. However, in the next five years, stackcoin volumes could reach the $2.8 trillion mark.
The experts suggested that integration with payment services and consumer platforms has a good chance of becoming a “growth flywheel” for tokens backed by the dollar or other fiat currency.
“Regulation of stackcoins has more political support than other cryptocurrencies. Several jurisdictions, including Singapore, Hong Kong and Japan, have already launched pilots for such assets,” the report explained.
In early August, payment service provider PayPal launched the PYUSD stablecoin. Earlier, Japanese banks had announced Cosmos-based cryptocurrencies.
Accordingly, Japanese banks have announced the issuance of Cosmos-based cryptocurrencies.