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Stablecoins may be on the way to rewriting part of the US debt story. Pointing to discuss A new report from Standard Chartered suggests that the sector could generate as much as $1 trillion in new demand for US Treasury bills by 2028.
It is the growth of exporters For stablecoinsthey are expected to become major buyers of government debt, turning digital dollars into a powerful force in the traditional economy.
Highlight the main points
- Path to $2 trillion: Analysts expect the total market value of stablecoins to jump to $2 trillion by the end of 2028, from about $300 billion today.
- Decrease in Treasury Bills: Creditors are expected to take about $1 trillion in temporary Treasury bills, which could lead to a deficit unless changes are made by the Treasury Department.
- Control drivers: The GENIUS Act mandates a high level of liquidity, forcing lenders to focus on their 0-3 month loan portfolio.
Why have stablecoins become such a powerhouse in the economy?
Stablecoins are no longer trading instruments, but have evolved into a stable buyer of US government debt. When the GENIUS Act was passed in July 2025, it became mandatory for exporters Stock up on high-quality liquid productsespecially in short-term Treasury bonds.
Today, supply is around $300 billion, and Standard Chartered believes that the recent decline is temporary, expecting significant growth in the futureespecially from emerging markets.
As people in low-income countries turn to dollar-denominated currencies, aid reserves flow directly into the US debt, supporting the need for… Crypto Treasury markets behind.
A review of the $1 trillion forecast
Standard Chartered experts Geoffrey Kendrick and John Davies explain the strategies for this growth.
The two researchers expect that stablecoins will grow to reach a value of $ 2 trillion by 2028. This growth alone will create $ 0.8 trillion to $ 1 trillion in new demand for short-term Treasuries, especially at the end of the yield cycle.
In short, stablecoin issuers can be among the largest buyers of T-bills. If current supply trends continue, the report projects an excess demand of approximately $0.9 trillion over the next three years.
And who Expectations About two-thirds of this growth will come from emerging markets, and much of it will be new, not just a redistribution of existing investments.
This represents a significant need to support US debt.
The effect on US debt repayment
The book is so big that the US Treasury can’t ignore it.
If the supply is not changed, short-term Treasury yields will be lower. Treasury Secretary Scott Besent has previously suggested that stablecoins could become an important part of the US government’s finances.
This creates mutual benefit; The dollar strengthens its role in digital markets, and the government finds a permanent buyer for its debt.
But closer integration means tighter oversight, and as the new stablecoin rules progress, the collaboration between private issuers and public debt management will increase.
Despite new developments in various types of securities, Treasuries remain at the forefront of regulatory approval.
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A note Can stablecoins help solve the US debt crisis? Standard Chartered expects $1 trillion in demand for Treasuries appeared for the first time Cryptonews Arabic.
