“The clients of the American unit Standard Charterrered are more interested in steiblcoins than bitcoin. This was stated by Jeffrey Kandrick’s digital assets research, The Block reports. According to the bank, 90% of the discussions last week concerned the steiblcoins. The meetings were held in Washington, New York and Boston with clients and government officials. Participants analyzed the economic consequences of the possible growth of the stablcoin market up to $ 750 billion for […]”, – WRITE: Businessua.com.ua
The clients of the American unit Standard Charterrered are more interested in steiblcoins than bitcoin. This was stated by Jeffrey’s Digital Assets Research Kendrick, reports The Block.
According to the bank, 90% of the discussions last week concerned the steiblcoins. The meetings were held in Washington, New York and Boston with clients and government officials.
Participants analyzed the economic effects of the possible growth of the stablcoin market up to $ 750 billion. According to Coingcko, the segment capitalization is approximately $ 263 billion.
Source: Coingcko.
Kendrick believes that the expected indicator of the market will reach by the end of 2026. Then the steiblcoins will affect traditional financial assets and policies. In particular, more treasury bills will be needed to provide such coins in the United States, which will change the structure of government debt and demand for a dollar, the expert emphasized.
Regulation The discussion was made in parallel with the consideration of the bills on the regulation of the industry, including the Genius ACT).
On July 15, the House of Representatives of the United States rejected three laws related to cryptocurrencies. However, after the post of President Donald Trump about meeting with Congressmen in the Oval office, a new schedule of hearing appeared – the consideration will begin on July 16.
According to Kendrick, after the adoption of Genius ACT in developed countries, steiblcoins are likely to be used for payments. Corporations will receive faster and cheaper transfers, and banks and municipalities – the ability to produce their own assets.
At the same time, in developing countries, people buy steiblcoins for savings in dollars – to protect funds from depreciation of national currencies.
However, a significant outflow of capital through such coins can create difficulties: it will be more difficult for governments to control exchange courses and support banking systems, Kendrick said.
He also mentioned the Clarity Act, a bill that can be a regulatory framework for digital assets and goods. According to the expert, this will have a “special” impact on the market of token real assets (RWA). The initiative involves the creation of a legal framework for asset tokenization-from real estate to shares, which will expand the scope of Defi protocols, such as Aave.
Fintech and the stablcoin market The largest US bank JPMorgan is already exploring public steiblcoins tied to the dollar, CNBC writes. At the same time, James Dimon’s CEO was doubted in their expediency, although he acknowledged:
“I do not understand why they are needed instead of ordinary payments. But we owe it to explore. ”
According to him, the reason is competition from Fintech companies.
“They are smart, want to create bank accounts and payment systems. We can’t miss it, ”CEO JPMorgan explained.
The bank is already testing the JPMD stablcoin on the Base blockchain that supports the COINBASE cryptocurrency. The asset is intended to simplify payments between JPMorgan’s institutional clients.
We will remind, experts warned about the possible bubble in the market of steiblcoins. They believe that the successful IPO of Circle can cause a wave of exit from the imitators.
Later Bis He criticized steiblcoins as “unreliable money.” The institution noted that these assets do not meet three key criteria – “unity”, “elasticity” and “integrity”.
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