Geoffrey Kendrick: Stablecoins are transitioning from fiat on/off ramps to savings tools On February 27, Geoffrey Kendrick, Global Head of Digital Assets Research at Standard Chartered, stated in an interview with the Deribit channel that the market cap of stablecoins is expected to reach $2 trillion by the end of 2028. He noted that the use of stablecoins has shifted towards being savings tools in emerging markets, with crypto on/off ramps accounting for only about 20%. The user base consists of coin-hoarding whales and ultra-wealthy individuals, as well as ordinary people seeking to avoid domestic inflation and fiat currency depreciation. Many hold USD stablecoins via VPNs to hedge against local currency devaluation and banking risks. Source: @DeribitOfficial