The US dollar-pegged stablecoin market is predicted to reach $1.2 trillion by 2028 due to comprehensive crypto regulations in the US, with Coinbase estimating that $5.3 billion in US Treasuries per week will be needed to back stablecoin issuers. The GENIUS bill will set a regulatory framework for stablecoins starting in January 2027.
Coinbase analysis shows that private stablecoin issuers like Tether and Circle have become major buyers of US government debt, surpassing countries like South Korea, UAE, and Germany. While dollar-denominated stablecoins dominate, other countries are exploring stablecoins to complement traditional fiat currencies. South Korea and China are considering stablecoin regulations and issuance.

Read more at Cointelegraph: Stablecoin Market Will Surge to $1.2 Trillion by 2030: Coinbase