Foreign media: stabilizing the currency market is no longer just a clearing tool for encrypted transactions. As the size of the market exceeds $310 billion, institutional participation increases, and chain payments increase in dynamism, a growing number of institutions are beginning to discuss whether it can continue to expand.
Why is the market re-pricing?
The stable currency of the past grew more from demand for transactions. Now, payments, cross-border settlements, business fund management and monetized assets are moving towards a broader financial landscape. This has led to a significant increase in projections by many agencies.
Regulation is a prerequisite, not all.
The article notes that regulatory clarity does facilitate more active entry by issuers, banks and payment companies. The United States GENIUS Act has established a specific framework for the payment of stable coins, but the Treasury Department and relevant federal regulators missed the July 18 rule-making deadline, with some of the rules still outstanding.
Payment data are more illustrative than market value
According to the report, it is not sufficient to measure the development of a stable currency. The growth in chain payments and cumulative transactions is more reflective of real use. The studies cited in the paper show that the scale of transactions on the stable currency monthly chain has increased significantly and that future growth may also come from commercial access and intergenerational wealth transfers.
Additional information:It is mentioned that some agencies expect to continue to scale up their annual payments of stable currencies to 2035, but this refers to the flow of transactions, not market value.