Standard Chartered forecasts more than $1 trillion may exit emerging market banks and flow into stablecoins in the next three years as crypto adoption grows.
Multinational bank Standard Chartered predicted that more than $1 trillion may exit emerging market banks and flow into stablecoins by 2028 as demand for US dollar-pegged crypto assets accelerates.
In a Monday report, Standard Chartered’s Global Research department said it expects global stablecoin adoption to accelerate as payment networks and other core banking activities shift to the non-bank sector.
As stablecoins gain traction in emerging markets (EM), Standard Chartered noted that users might utilize stablecoins to access what’s essentially a US dollar-based account. “Stablecoin ownership has been more prevalent in EM than DM, suggesting that such diversification is also more likely in EM,” Standard Chartered said.
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