Stablecoin Market Projected to Reach $3.7 Trillion by 2030

According to BlockBeats, U.S. Treasury Secretary Besant recently stated on social media that the stablecoin market is projected to grow to $3.7 trillion by the end of 2030. This optimistic outlook is bolstered by the passage of the GENIUS Act. A thriving stablecoin ecosystem is expected to increase private sector demand for U.S. Treasury bonds, which serve as the asset backing for stablecoins. This additional demand could potentially lower government borrowing costs and help manage national debt. Furthermore, it may open the door to a dollar-based digital asset economy for millions of users worldwide. This development is seen as a win-win situation for all parties involved: the private sector, the U.S. Treasury, and consumers. It exemplifies the positive outcomes of smart, innovation-supportive legislation.