UBS: Stable coin market value looks at $1.2 trillion by 2031, digital assets are becoming mainstream According to TechFlow, a research report by UBS on September 28, 2026, which covers digital asset strategies for the first time, the market value of stablecoins is expected to reach approximately $1.2 trillion by 2031, with real-world payment volumes of around $3 trillion. The issuer of stable currency holds about 175 billion US dollars of short-term US treasury bond bonds related exposure. The Bank for International Settlements estimates that the inflow of 3.5 billion US dollars of stable currency will reduce the yield of three-month treasury bond by about 0.7 basis points, and decrease by about 4 basis points in ten days. Tokenization can unlock approximately $2.46 trillion in annualized repurchase trading volume. By 2030, AI agents may facilitate approximately $2 trillion in global C2B e-commerce, with stablecoins used for about $56 billion of that. UBS believes that the mainstream trend of digital assets will have a neutral to moderate positive impact on the entire financial sector. Payments and fintech, exchanges, and asset management are moderately positive, while banks are neutral. The configuration logic is focused on three directions: stablecoins, tokenization, and proxy commerce, which increases compliance costs and benefits large-scale operators.