JPMorgan Chase: $2 trillion stablecoin market size forecast 'overly optimistic'

According to Bloomberg, JPMorgan Chase has released a report questioning its $2 trillion forecast for the stablecoin market, stating that the number is "too optimistic". Analysts point out that the current market size of $260 billion may only achieve 2-3 times growth in a few years, far below the US Treasury Secretary's previous expectation of breaking through $2 trillion by 2028. The report points out that although the GENIUS Act has established a regulatory framework for stablecoins, the improvement of payment infrastructure and ecosystem still requires time. Currently, USDT and USDC hold over 60% of the market share, but stablecoins only account for 1% of global capital flows. Analysts believe that due to investors' conservative attitude towards cash management, it is difficult to use stablecoins as a mainstream liquidity alternative in the short term. JPMorgan Chase emphasized that although stablecoins have instant settlement advantages in cross-border payments, their acceptance by merchants is still higher than that of ordinary consumers.