“The NEXT FIVE YEARS WILL LIKELY SEEBLECOINS SUBSTITUTE FOR SOME OVERSEAS AND DOMESTIC US CURRENCY HOLDINGS, ACCORDING TO A CITI FUTURE FINANCE REPORT.”, – WRITE: www.coindesk.com
Above and Beyond their role as tokenized Cash for the Crypto Trading Community, Stablecoins – Digital Tokens Whose Value Is Pegged Primarily to The Us Dollast. The NEXT FIVE YEARS WILL LIKELY SEEM TheM REPLACING PROVERSEAS AND DOMESIC US CURRENCY HOLDINGS as Well as Forming Part of the Short-Term Liquidity Held at Banks, According To-Re-Tota A Recting To-To-TRI. Future Finance Think-Tank. If yield-bearing stablecoins can beised, thorse may find a role in term deposits and retail Money Market Funds.
“We’re look at the integration of stablecoins in what you call the Mainstream Economy,” Ronit Ghose, The Global Head of Future of Finance, Citi Institute, Said in An Interview. “For Example, Stablecoins Could Be the Cash Leg for Tokenized Financial Assets, or for Payments by Smes and Large Corporates. The Dollar, and to A Lesser Extetent The Any, Has. Status.
The Stablecoin Market Size is Currently AROUND $ 240 Billion, Led By Tether’s $ 145 Billion USDT and Circle’s $ 60 Billion USDC. In Citi’s Base-Case Predict, Stablecoins Will Grow to $ 1.6 Trillion by 2030, Provides Regulatory Support and Institutional Integration Take Hold. In the Bank’s More Bullish Scenario, The Market Could Balloon to $ 3.7 Trillion. (The Global Cryptocurrency Market Cap Today Stands AROUND $ 3.45 TRILLION.)
Large Crypto Firms Like Fireblocks, A Platform for Managing and MOVING CRYPTO Assets, SAID IS ALSO NOTED A SWING IN STABLECOIN US
“Payment Companies Are Leveraging Stablecoins for a variety of Pure-Play Payment Flows, Including Cross-Border Transfer, Remittance, Merchant Settlements and Othars, COO MICHHHA “Payment Companies Represent 11% of All of Our Clients, But 16% of the Overall Stablecoin Transactions With Over Stablecoin Volume Within 12 Months. ”
Over The Past 90 Days, The Combined USD and USDC Volume on Fireblocks Was $ 517 Billion, Some 44% of the Total Volume, A Figure That Has Doubled Over The Past Several Years. Of that, Payment Companies Generated $ 82 Billion, Up 38.2% Quarter Over Quarter, Fireblocks SAID.
The Empire Strikes Back
In the past, Citi’s Future Finance Team Has Weighed The Potential of Central Bank Digital Currencies (CBDCS) Held by President Donald Trump.
For Citi’s Ghose, The Growth of Stablecoins Raises Many Questions: If The US Supports Stablecoins, Will Europe Too? Or Will Europe Prefer CBDCS? Will CBDCS Grow in the REST of the World? How Will Deposit Tokens and Tokenized Deposits Play Out?
Whatever the Landscape Looks Like, Banks Will Likely Avail Themselves of All of the Above, Ghose Said. All Banks, by Definition, Conduct Inter-Bank Payments, WHICH MAKE SENSE WITH A WHOLESALE CBDC, As Well As Retail CBDCS, HE SAID.
“Depending on the Country, There May Be A Stablecoin Option or There May Be a CBDC Option,“ Ghose Said. “From A Crypto Perspective, It’s Like Starwars, Were The CBDCS are the Evil Empire, As Opped to the Crypto Guys, Who Senemselves As Luke Skywalker.
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