Stablecoin Issuance Forecast Raised to $4 Trillion by 2030
The stablecoin market is rapidly growing, with issuance volumes increasing from $200 billion at the start of 2025 to $280 billion recently.
Citi has revised its 2030 forecast for stablecoin issuance to $1.9 trillion in a base case and $4 trillion in a bull case.
If stablecoins circulate at similar velocities to fiat currencies, they could support up to $100 trillion in annual transactions by 2030, potentially reaching $200 trillion in a bullish scenario.
Stablecoins may not lead all on-chain finance; bank tokens, like tokenized deposits, could see higher transaction volumes due to corporate demand for regulatory compliance and real-time settlements.
A minor shift of traditional banking operations to blockchain could result in bank token turnover exceeding $100 trillion by 2030.
The U.S. dollar remains predominant in on-chain money, driving demand for Treasuries, though regions like Hong Kong and UAE are becoming innovation hubs.
Citi views the rise of stablecoins as part of a broader transformation of financial infrastructure rather than a replacement of banks, predicting coexistence with bank tokens and CBDCs.
