Citi boosts stablecoin outlook
CITI BOOSTS STABLECOIN OUTLOOKCiti Research raises its forecast for stablecoin market size to $1.9 trillion by 2030 in its base case and $4.0 trillion in its bull case scenario, from its April estimate of $1.6 and $3.7 trillion respectively."Today we expect stronger stablecoin growth compared to 6-9 months ago," strategists said, citing demand from the crypto-native ecosystem, e-commerce and digitally native firms, and offshore buyers seeking U.S. dollar exposure.Stablecoins, which aim to hold a constant value typically pegged 1-to-1 to the dollar, have a combined market value of about $300 billion, according to CoinGecko. Their use has surged among crypto traders shifting funds between tokens, and the industry hopes they will gain mainstream traction for instant payments.Citi said the turnover of bank tokens could exceed stablecoins by 2030, even with a modest shift of current traditional rails on chain. "It is not a digital format war that we foresee. But a continued progress towards smarter, faster finance," Citi strategists wrote.(Medha Singh)*****EARLIER ON LIVE MARKETS:IPO UPTICK A BULLISH SIGN FOR STOCKS CLICK HEREINVESTOR SENTIMENT SHIFTS TOWARD 'NEUTRAL' CLICK HEREPCE VS UMICH: MORE SPENDING/SOURING SENTIMENT, STEADY PRICES/RISING INFLATION EXPECTATIONS CLICK HEREBEARISH BETS BUILD: STOCKS SET FOR A BUMPY RIDE CLICK HEREWALL STREET SET TO GAIN GROUND AS INFLATION DATA KEEPS FED RATE CUT BETS ALIVE CLICK HERERALLY IN BANKING STOCKS STILL HAS LEGS CLICK HEREGERMAN OPPORTUNITY? CLICK HEREEUROPEAN BOURSES SHRUG OFF TRUMP'S TARIFFS CLICK HEREEUROPE BEFORE THE BELL: TRUMP DOES IT AGAIN CLICK HERESTOCKS COP ONE-TWO PUNCH CLICK HERE