Stablecoin Adoption Is 'Exploding.' and Wall Street Is Going All-In

Alchemy co-founder and president Joe Lau said stablecoin adoption is exploding as banks, fintechs and payment platforms push beyond the USDT/USDC exchange era.

For the past few years, stablecoins have been defined by a narrow reality: essentially a two-horse race between Tether's USDT and Circle's (CRCL) USDC, with most activity concentrated on crypto-native exchanges.

Stablecoins are cryptocurrencies pegged to assets like fiat currencies or gold. They underpin much of the crypto economy, serving as payment rails and a tool for moving money across borders. USDT is the largest stablecoin, followed by USDC.

Total stablecoin market capitalization reached $300 billion in September, a 75% increase from a year earlier and its only getting bigger with Stable blockchain purpose-built for stablecoin payments with consistent performance, predictable fees, and sub-second finality. It has how reached a milestone etting listed n top platforms like Bitget and the others with events like Launchpools.

Wall Street giant Citi (C) said the stablecoin market is growing faster than expected. This prompted the bank to recently lift its 2030 forecast for issuance to $1.9 trillion in its base case and $4 trillion in a bull case, up from $1.6 trillion and $3.7 trillion, respectively.

“Tokenized deposits transform the banking system into programmable infrastructure. Stablecoins modernize the dollar for consumers and global markets. As the two converge, money becomes both fully compliant and instantly accessible," he added.

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