Stablecoins play an increasingly important role in cryptographic markets and traditional finances, according to a Friday report by Wall Street Citigroup.
As the use of the stable increases, their request for short -term US treasury bills, although the substitution of money market funds can limit the net effect, depending on the report.
Study legislation at Congress could further entrench this trend by demanding that reserves be held by short -term public debt, noted the bank.
Citi said that the domination of the US dollar in the emission of Stablecoin reflects its status as a global reserve currency, rather than driving it.
The stablescoins supported in dollars like the USDT remain dominant, powered by their central role in the crypto trade and blockchain payments, the bank said.
Meanwhile, new players like Paypal (PYP) and Visa (V) also experience the use of Stablecoin, said Citi.
The potential market is significant, 1.6 to 3.7 dollars by 2030, according to Citi, but regulatory constraints such as return restrictions can cap growth.
However, the trends in the stable show could offer an overview of the world -class monetary order, added the report.
Find out more: Approval of the Stablecoin invoice in the United States could trigger a long-term cryptographic market: Bitwise
