JPMorgan Predicts Stablecoin Surge, Challenges Traditional Banks

JPMorgan Chase predicts stablecoin supply could reach $500 billion to $600 billion by 2028, lower than some optimistic forecasts. Most demand currently comes from crypto market activities, not everyday payments. Stablecoins, tied to stable assets like the U.S. dollar, are crucial for crypto trading and transactions. While payment use may grow, increased velocity could offset higher supply. Traditional banks and central banks are also developing blockchain initiatives and digital currencies, potentially offering regulated alternatives.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.