Stablecoin monthly volume first "breaks 700 billion dollars", comparable to Visa, Standard Chartered: Trump's inauguration will rise tenfold

According to a research report by Standard Chartered, with the continuous legalization of encryption regulation since the Trump administration took office, the future scale of Stable Coins may rise tenfold to a range of 2.1 trillion to 2.3 trillion USD. In addition, according to Visa data, in the past month, the monthly volume of Stable Coins has surpassed 700 billion USD for the first time, a record that also rivals the average annual volume of Visa. (Background: Is there a logical shift in altcoin season? CryptoQuant CEO: No longer relying on BTC rotation, Stable Coin becomes a driving force) (Background: Opinion> Why can the 'interest-bearing stablecoin BFUSD' change the stablecoin ecosystem of exchanges at once?) After Trump was elected president, due to his pro-cryptocurrency political stance, BTC temporarily became the darling of Wall Street and traditional institutions, which also made the encryption market realize that cryptocurrencies are entering mainstream assets. However, before that, there was already an asset (coin) in the market that was challenging mainstream finance with the concept of ease of payment, namely the USD Stable Coin. Standard Chartered Report: Trump's presidency may boost the Stable Coin Market Cap by tenfold. According to DLNews, a research report by Standard Chartered Bank points out that the current Stable Coin market (Market Cap approximately 220 billion USD) only accounts for 1% of the US Money Supply (total USD coin supply is about 21 trillion USD) and 1% of the total forex trading volume (total forex trading volume is about 2.1 trillion USD). However, the report states that with the gradual legalization of the encryption field, the scale of Stable Coins will rise by tenfold: With the legalization of this field, achieving a 10% rise in each indicator (total USD coin supply, total forex trading volume) is feasible, meaning that the scale of Stable Coins will rise to 2.1 trillion to 2.3 trillion USD. The report also indicates that the Trump administration and the Republican Party may be key drivers of the rise in the US, as potential use cases will spread globally. Although during the Biden administration, three bills regarding Stable Coin regulations were proposed but ultimately did not pass, with the Trump administration, relaxed regulations will be crucial for a tenfold increase in the Stable Coin Market Cap and usage: When the Trump administration takes office in early 2025, there may be more progress in this regard. In November, the Stable Coin volume surpassed 700 billion USD. On the other hand, competition in the Stable Coin field is becoming more intense. With the rise of fintech giants PayPal, Robinhood, and emerging companies like Ethena in the Stable Coin business, along with XRP issuer Ripple and UK emerging bank Revolut actively developing Stable Coins and preparing to enter the market, traditional Stable Coin developers USDT and USDC are facing the dilemma of gradually losing market share. However, looking from a different perspective, as Stable Coins continue to develop and grow, coupled with the expected continued relaxation of US regulations in the future, many enterprises are optimistic about this gradually rising new field and aim to establish a foothold in the field. This healthy competition also motivates developers to continue working hard to create better financial products. It is worth noting that according to Visa's data, in the past month, the volume of Stable Coins in the Decentralized Finance sector has surpassed an astonishing 700 billion USD, breaking historical records. This data is close to Visa's average annual transaction level (Visa's total volume in 2023 was 12.3 trillion USD).