Citi: $1.9T Stablecoin Market by 2030; Bank Tokens Lead
Global bank Citi raised its 2030 stablecoin market cap forecast to $1.9 trillion in a base case and $4 trillion in a bull case, with a $0.9 trillion bear scenario. Key growth drivers include deposit substitution, crypto market expansion and cash replacement. Regulatory clarity, such as the US GENIUS Act, offshore USD demand and e-commerce wallet partnerships are boosting institutional adoption. Citi also predicts annual stablecoin transaction volume could reach $100 trillion. However, bank-issued tokens and tokenized deposits may outpace stablecoins, with $100–$140 trillion in turnover by 2030 thanks to programmability and embedded compliance. Risks remain in fragmentation, reserve quality and audit transparency. The stablecoin market’s rapid growth underscores its transition into a viable digital payments rail.
Bullish
Citi’s upgraded stablecoin market forecasts highlight strong growth potential driven by deposit substitution, crypto market expansion and cash replacement. Enhanced regulatory clarity and institutional partnerships signal growing adoption. The projected surge to $100 trillion in annual stablecoin volume underscores rising demand. Meanwhile, bank-issued tokens and tokenized deposits are poised to capture even larger transaction volumes thanks to programmability and built-in compliance. In the short term, positive regulatory developments and e-commerce integrations could boost stablecoin usage and market confidence. Over the long term, the scalability and programmability of digital assets will underpin sustained growth. Together, these factors create a bullish outlook for stablecoins and related token markets.