Standard Chartered Delays $2 Trillion Stablecoin Market Forecast to 2030

BlockBeats news, October 14 — Geoffrey Kendrick, Standard Chartered's Global Head of Digital Asset Research, said in a Wednesday report that he still expects the stablecoin market to reach $2 trillion in size, but due to stagnant supply growth this year, the timeline for hitting that target has been pushed back from 2028 to 2030. Over the past 12 months, stablecoin supply has roughly hovered between $300 billion and $320 billion, and currently stands at about $309 billion. Kendrick believes the slowdown is cyclical rather than structural, related to the weaker crypto market, and that after similar historical phases, expansion has typically resumed as market conditions recover.

The report also said stablecoin usage continues to grow: this year's average monthly on-chain transfer volume is nearly $10 trillion, up from $4 trillion in 2025, with a single-month record of about $19 trillion in May; average monthly turnover velocity has risen from about 15 times in 2025 to about 30 times. USDT's average monthly turnover is about 7 times, mostly used for dollar savings in emerging markets; USDC has risen from about 45 times to about 80 times, used more for payments, financial transactions, and early payments between AI agents.