Citi Forecast: Stablecoin Market Could Reach $4 Trillion by 2030

According to Citi analysts, the stablecoin market could expand from its current ~$280 billion market cap to $1.9 trillion by 2030 in a base case and up to $4 trillion in a bullish scenario. If fully integrated, stablecoins could support up to $100 trillion in annual transactions, vastly outpacing today’s volumes. Growth drivers include expanding regulatory clarity under MiCA, greater adoption for cross-border settlement and tokenized bank deposits. However, many institutions still treat stablecoins as experimental, while incumbent payment systems offer low-cost, real-time transfers. Geopolitical concerns over U.S. dollar–pegged stablecoins have prompted nine European banks, including UniCredit, ING and CaixaBank, to develop a euro-backed stablecoin by late 2026 under EU regulation frameworks, aiming to safeguard payment sovereignty and complement the digital euro. Despite U.S. market dominance by USDT and USDC, the European project seeks to build trust, liquidity and regulatory compliance. Recent momentum in stablecoin issuance and evolving regulatory landscapes set the stage for significant expansion, with implications for payment rails, capital flows and digital asset trading.