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Citigroup has forecasted that the stablecoins supply could skyrocket to $3.7 trillion by 2030, highlighting the growing influence of digital dollars in the global economy.
Currently, the total stablecoins supply stands at around $240 billion. Citigroup’s analysis presents two growth scenarios: a base case of $1.6 trillion and a bull case of $3.7 trillion. The report suggests this explosive growth will be driven by greater regulatory clarity, rising institutional demand, and broader use in payments.
Why Stablecoins Are Booming
Citigroup’s report, titled Digital Dollars, identifies regulatory clarity as a key factor in expanding the stablecoins supply. If governments, especially the United States, provide clearer rules, adoption will likely surge.
“Institutional players want clear rules before they dive in,” the report noted. “Once that’s in place, the stablecoin supply will likely expand rapidly.”
How Banks and Governments Could React
One major implication is how much stablecoin supply could affect traditional banking and government debt. Citigroup projects that stablecoin issuers could collectively hold over $1 trillion in U.S. Treasuries by 2030. That would make them some of the largest holders of American debt.
Banks, on the other hand, might lose deposits as customers switch to digital dollars. But Citigroup also sees opportunity: banks can offer stablecoin custody, help manage reserves, or even issue their own coins.
Payments and Cash Management
Another driver of stablecoin supply is real-world use. More businesses are turning to blockchain-based payments for speed and efficiency. Citigroup expects stablecoins to become common tools for cash management, cross-border trade, and payroll.
“As more companies use stablecoins for daily transactions, we’ll see the stablecoin supply expand to meet that need,” the report stated.
Stablecoins Price and Market Cap Table
| Stablecoin | Price (USD) | Market Cap | 24h Volume | Peg Type |
|---|---|---|---|---|
| USDT (Tether) | $1.00 | $113.2 billion | $58.9 billion | USD-pegged |
| USDC (Circle) | $1.00 | $32.4 billion | $8.1 billion | USD-pegged |
| DAI (MakerDAO) | $1.00 | $4.9 billion | $241 million | Crypto-collateral |
| FDUSD (First Digital USD) | $1.00 | $4.2 billion | $1.3 billion | USD-pegged |
| TUSD (TrueUSD) | $0.998 | $2.3 billion | $145 million | USD-pegged |
| GHO (Aave Protocol) | $0.997 | $215 million | $5.3 million | Crypto-collateral |
| sUSD (Synthetix) | $0.997 | $55 million | $3.2 million | Crypto-collateral |
| EURC (Euro Coin) | $1.07 | $74 million | $2.1 million | EUR-pegged |
A “ChatGPT Moment” for Blockchain
Citigroup compares the current state of blockchain to AI before ChatGPT. The bank predicts 2025 will be the year blockchain goes mainstream, and stablecoin supply will play a central role.
“This feels like the ChatGPT moment for digital dollars,” said the analysts. “We’re seeing public and private interest come together in a big way.”
The Road Ahead
If Citigroup is right, the world’s stablecoin supply will grow more than tenfold in the next five years. That would mark a major shift in how people and institutions move money.
As regulators move closer to setting national frameworks and banks adapt their services, the stablecoin supply could become the backbone of a new financial system.
Conclusion
Citigroup’s bold $3.7 trillion prediction shows that stablecoins are no longer just a crypto niche — they’re on track to become a core part of the global financial system. As more people and companies use them for payments and savings, and as regulators catch up, the stablecoin supply could grow faster than anyone expected.
Whether you’re a bank, a business, or a crypto investor, one thing is clear: stablecoins are here to stay — and they’re just getting started.
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Frequently Asked Questions (FAQs)
Q: What is the current stablecoin supply?
A: As of April 2025, the global stablecoin supply is around $240 billion.
Q: Why does Citigroup believe the stablecoin supply could reach $3.7 trillion?
A: Citigroup projects that regulatory clarity, growing institutional use, and real-world applications like payments and cash management will drive exponential growth.
Q: What are the base and bull case predictions?
A: Citigroup’s base case predicts a stablecoins supply of $1.6 trillion by 2030, while the bull case projects $3.7 trillion.
Q: How will banks be affected by rising stablecoin supply?
A: Banks may see deposit outflows but also have new opportunities in stablecoins custody, reserve management, and token issuance.
Q: Why are stablecoins gaining traction in global payments?
A: They offer faster, cheaper transactions and can help businesses manage money more efficiently, especially across borders.
Glossary
Stablecoins
A cryptocurrency that is pegged to a stable asset, like the U.S. dollar, to minimize price volatility.
Tokenization
The process of turning real-world assets (like real estate or bonds) into digital tokens on a blockchain.
Cash Management
A business strategy for efficiently handling incoming and outgoing money, including payroll, payments, and investments.
Treasuries
Government-issued debt securities, often used by stablecoin issuers as collateral for the value of their coins.
Regulatory Clarity
Clear rules and laws around how stablecoins and other crypto assets can be used and issued.
Base Case / Bull Case
Financial projections — the base case is a moderate forecast; the bull case is an optimistic, high-growth scenario.
