U.S. Treasury Secretary Forecasts $2 Trillion Stablecoin Market

U.S. Treasury Secretary Scott Bessent predicts a substantial expansion of the stablecoin market to reach $2 trillion, potentially bolstering the U.S. dollar’s global financial dominance. This prediction aligns with growing confidence in the stability and utility of dollar-pegged stablecoins. The increase in demand for these assets is expected to benefit both the Treasury market and international finance, strengthening the U.S. dollar’s position as a reserve currency. The GENIUS Act, designed to regulate payment stablecoins comprehensively, is playing a significant role in this growth.