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Stablecoin Market Set for Trillion-Dollar Growth

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Fintech leaders predict stablecoins to revolutionise global money movement; Circle rallies.

The stablecoin market is poised for substantial growth, potentially reaching trillions of dollars, according to industry experts. Zach Abrams, co-founder and CEO of Bridge, a company building infrastructure to support stablecoin payments, believes this could be the most significant shift in global money movement since the introduction of credit cards. Bridge was recently acquired by fintech giant Stripe for $1.1 billion. Companies like SpaceX and ScaleAI are already using stablecoins to streamline international fiat conversions, signalling broader adoption.

Circle, a stablecoin issuer, experienced a strong rally, with shares soaring nearly 8% on Thursday, adding to gains of over 600% since its New York Stock Exchange debut earlier this month. This surge reflects growing Wall Street interest in stablecoin technology and the increasing integration of traditional finance with digital asset infrastructure. Fiserv recently launched a stablecoin, which Mastercard has integrated into its network, further solidifying this trend.

Abrams highlights the transformative potential of stablecoins, drawing parallels to the impact of credit cards. He notes that private firms like ScaleAI and SpaceX already utilise stablecoins for international payments. Abrams predicts that as regulatory clarity improves, more traditional financial institutions will seek to participate in the stablecoin market, currently dominated by Tether and Circle. He emphasises the necessity of traditional financial firms playing a significant role for the market to achieve trillion-dollar valuations.

 

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