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3h ago

Stablecoins Poised to Pull Up to $1 Trillion From EM Banks as JPMorgan Sees $1.4 Trillion Dollar Boost

With 99% of tokens tied to the dollar, rapid adoption in emerging markets raises policy trade-offs for regulators.

Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, Litecoin are placed on PC motherboard in this illustration taken, June 29, 2021. REUTERS/Dado Ruvic/Illustration
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Jpmorgan: stablecoins to boost us dollar demand by $1.4t
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Overview

  • Standard Chartered forecasts as much as $1 trillion could shift from emerging‑market bank deposits into dollar‑pegged stablecoins over the next three years.
  • The bank projects the stablecoin market could reach about $2 trillion by 2028, with roughly $1.2 trillion potentially held in emerging‑market wallets.
  • JPMorgan estimates stablecoin adoption could generate about $1.4 trillion in additional demand for U.S. dollars by 2027, reflecting the dominance of USD‑pegged tokens.
  • Countries flagged as most exposed to deposit outflows include Egypt, Pakistan, Bangladesh, Sri Lanka, Turkey, India, Brazil, South Africa, and Kenya.
  • Current market size stands near $260–304 billion, with growth fueled by U.S. pro‑crypto policy and new regulations globally, offering inclusion and payments gains alongside financial‑stability risks.