U.S. Treasury Borrowing Advisory Committee: The stablecoin market size may reach $2 trillion by 2028

ChainCatcher news, according to Forbes, the U.S. Treasury Borrowing Advisory Committee (TBAC) expects the stablecoin market to reach $2 trillion by 2028. With the GENIUS Act expected to pass this August, stablecoin issuers will be required to hold U.S. Treasury securities as reserves, which could exceed the current $784 billion in U.S. debt held by China.

It is reported that over $120 billion in short-term U.S. Treasury securities currently support stablecoin issuance, with an additional $90 billion held in money market funds. U.S. Treasury Secretary Scott Bessent stated that stablecoins not only expand the use of the dollar but also support the ongoing demand for U.S. Treasury securities.