US Treasury Predicts Stablecoin Market Could Surge to $2 Trillion by 2028

With the expansion of the cryptocurrency and digital asset financial system has come the enlargement of the stablecoin market in america and overseas, acknowledged the US Treasury in a report launched on April 30.

The research famous that there may very well be an 8.3x improve from the present stablecoin market cap of $234 billion in April 2025 to about $2 trillion by 2028.

“Evolving market dynamics have the potential to speed up stablecoins’ trajectory to succeed in $2 trillion in market cap by 2028.”

Massive Predictions for Future Progress

This projection assumes the passage of the GENIUS Act within the US, which might set up clear regulatory tips and drive market confidence and adoption.

The GENIUS Act (Guiding and Establishing Nationwide Innovation for US Stablecoins) defines “cost stablecoins” as digital property redeemable at a hard and fast worth, pegged to fiat, however non-yield-bearing. It additionally units out reserve guidelines for stablecoin issuers.

In early April 2, the US Home Monetary Providers Committee passed the STABLE Act, which supplies the Workplace of the Comptroller of the Foreign money (OCC) the authority to approve and supervise “federally certified nonbank cost stablecoin issuers.”

Stablecoin reserve necessities might additionally drive giant demand for short-dated U.S. Treasuries, it acknowledged. Projections counsel stablecoin issuers might maintain round $1 trillion in T-bills by 2028 if development hits expectations.

The Treasury additionally predicted that stablecoin transactions might rise from round $700 billion per thirty days immediately to round $6 trillion per thirty days by 2028, which is roughly 10% of world foreign exchange spot transactions.

If regulatory clarity is achieved, stablecoins might change into a mainstream monetary instrument not only for crypto customers, however for conventional finance, company treasury, and even sovereign liquidity administration.

For customers in rising markets, stablecoins present direct entry to US {dollars} without having a US checking account, strengthening the foreign money’s world function, the report famous.

Stablecoin Ecosystem Outlook

The present stablecoin market capitalization is $244.5 billion, which represents round 8% of the whole crypto market cap, which is simply over $3 trillion, according to Coingecko.

The lion’s share of the stablecoin market is at the moment dominated by Tether, which has a 61% share with $149 billion USDT in circulation.

Circle is second with $61 billion in USDC circulation, giving it a 25% market share, and decentralized USDS (previously DAI) is third with 3% of the stablecoin market.

PayPal has seen vital development for its PYUSD stablecoin this 12 months. Nonetheless, it has lower than 0.36% market share. The corporate partnered with Coinbase just lately to spice up the adoption of its dollar-pegged stablecoin.