Stablecoin Market’s $2 Trillion Target Shifts From 2028 to 2030

Geoffrey Kendrick, Standard Chartered’s global head of digital-assets research, moved the bank’s expected date for a $2 trillion stablecoin market from 2028 to 2030, citing stalled supply growth this year.

Stablecoin supply has remained between about $300 billion and $320 billion over the past 12 months. It currently stands near $309 billion.

Monthly on-chain transfer volume averaged nearly $10 trillion in 2026, up from $4 trillion in 2025, and reached about $19 trillion in May. Average monthly turnover rose from about 15 times in 2025 to about 30 times this year.

USDT turned over about seven times a month, with use mainly for dollar savings in emerging markets. USDC turnover increased from about 45 times to about 80 times a month, with more use in payments, financial transactions and early payments between AI agents.