Source: cryptoslate
Translation: Blockchain Knight
Standard Chartered Bank has launched spot trading services for Bitcoin and Ethereum through its institutional cryptocurrency platform, further expanding its business footprint in the digital asset space as U.S. regulators and investors are increasingly focused on stablecoins.
Before this business launch, Geoffrey Kendrick, Head of Digital Asset Research at Standard Chartered Bank, held several high-level meetings from July 7 to 11 in Washington, New York, and Boston, engaging with crypto-native companies, Bitcoin miners, funds, and policymakers.
According to Kendrick, despite Bitcoin prices reaching new highs, nearly 90% of the discussions focused on stablecoins.
With the U.S. bill "GENIUS Act," which aims to establish clear rules for digital assets backed by fiat currency, set to pass soon, interest in stablecoins has surged.
Kendrick stated that the bill could officially take effect as early as this week, paving the way for rapid expansion of the U.S. stablecoin market and promoting broader adoption within financial institutions and public sector entities.
Kendrick noted that clients predict the stablecoin market size will reach $750 billion by the end of 2026, while as of July 15, this figure was approximately $250 billion.
As regulatory policies become clearer, the issuance scope of stablecoins is expected to expand significantly, potentially including not only large financial institutions but also regional banks and local governments exploring the issuance of tokenized cash instruments.
In addition to application promotion, discussions also covered macroeconomic impacts: potential changes in the U.S. Treasury yield curve, long-term effects on U.S. dollar liquidity, reforms in the U.S. payment system, and the financial stability risks that stablecoins may pose to emerging markets.
Standard Chartered's report indicates that the overall development speed of the stablecoin industry may be faster than previously expected.
Kendrick emphasized that another legislative effort, the "Digital Asset Market Transparency Act," could be passed by the end of September or early October, which may accelerate the tokenization of RWA and the integration of DeFi infrastructure.
On-chain data shows that the stablecoin balances across all wallet sizes (including centralized exchanges, DeFi platforms, and medium-sized retail wallets) continue to grow, indicating that the use cases for stablecoins are expanding and global demand is increasing.
Kendrick's research findings and the launch of Standard Chartered's trading platform reflect a key shift in institutional cryptocurrency strategy. While Bitcoin's status as a store of value remains solid, the current infrastructure and policy agenda clearly position stablecoins as a core pillar of programmable money.
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