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Goldman Sachs and US Treasury Secretary Scott Bessent Hope to Stablecoin Gold Rush, which is determined by new rules and the huge potential for expansion of the payment market. Stablecoins, which must be based on US dollars or treasury, could increase the demand for government bonds, although some say it usually redistributes money rather than increasing net debt demand.
US Treasury Secretary Scott Besstant Financial times; “Bessent reported to Wall Strett that he expects stable, digital chips supported by high quality securities such as treasures, will become an important source of demand for US government bonds,” “The”. Feet reported.
Ft ‘S sources asked for anonymity, but did not need them to be Coy: Bessent in July. In a press release, he expected the demand for cryptocurrencies – replaced from 1 to 1 with US dollar instruments – support the bond price:
“This innovative technology will confirm the status of the dollar as global stock currency, expanding access to the dollar economy for billions of the world and increasing the US Treasury demand, which is regained by Stablecoins. The genius law provides a rapidly growing stable market with the clarity of regulation that is needed to get into the multiticillion-dour industry, ”he said.
The genius law, which was published last month, “coordinates state and federal Stablecoin systems, ensuring fair and consistent regulation across the country,” the White House said at the time.
So what will the transaction be like?
The Goldman Sachs believes we are at the beginning of the Stablecoin Gold Rush, according to the study document published today by the bank Will Nance and others.
“Stablecoins” is $ 271 billion in the global market and we think USDC [the stablecoin issued by Circle] The benefits of the Binance platform from the market part of the market, as the ongoing Stablecoin laws legitimize the ecosystem and the cryptocurrency ecosystem is expanding, as well as potentially catalyzed in the legislation. Based on current trends and announced initiatives, we see $ 77 billion. USD growth USDC or 40% CAGR, from 2024-27E, ”they wrote.
The potential overall stablecoins market is in trillion, says Goldman. “The full size addressed to the payment market is ~ 240 trillion USD annual payment volume, while consumer payments are ~ 40 trillion anniversary. B2B payments make up approximately ~ 60 billion $ 60 billion and P2P payments and benefits make up the rest.