Citi forecasts stablecoin market could reach $3.7 trillion by 2030

Citigroup’s Global Perspectives and Solutions division projects that the stablecoin market could expand significantly by 2030, with a base case of $1.6 trillion and a bull case reaching $3.7 trillion, according to a recent report titled “Digital Dollars-Banks and Public Sector Drive Blockchain Adoption.”

The report highlights 2025 as a potential turning point for blockchain adoption in finance and government, driven largely by regulatory changes in the United States.

“2025 has the potential to be blockchain’s ‘ChatGPT’ moment for adoption in the financial and public sector, driven by regulatory change,” Citi analysts said.

The forecast assumes favorable regulation, technological improvements, and growing institutional adoption will fuel stablecoin growth globally.

However, the report also notes risks such as regulatory fragmentation and depegging events that could limit expansion.

U.S. dollar-backed stablecoins are expected to maintain dominance, comprising about 90% of the stablecoin supply by 2030, despite competition from national digital currencies promoted by other countries.

“We expect the stablecoin supply will remain U.S. dollar denominated (approx. 90%), with non-U.S. countries promoting national currency CBDCs,” Citi stated.

Stablecoins are increasingly used for remittances, cross-border payments, and decentralised finance applications, positioning them as critical components of future financial infrastructure.

Citi’s projections suggest that if these conditions are met, stablecoins could drive a major transformation in global finance by the end of the decade, reshaping payment systems and financial services through blockchain technology.