Stablecoins' Transaction Volumes Predicted to Soar to 10% of US M2 and FX by 2030
Standard Chartered and Zodia Markets, a crypto brokerage and exchange, predict a significant rise in stablecoins' transaction volumes. They forecast that these transactions could reach 10% of US M2 and 10% of foreign exchange (FX) transactions in the future. This growth is expected to be driven by U.S. regulation, with no specific date given.
Zodia Markets, launched in 2022 by Standard Chartered's SC Ventures, initially operated as a crypto brokerage and exchange. However, it later pivoted to provide an over-the-counter (OTC) FX settlement solution for cross-border payments involving stablecoins. By mid-2023, the platform was trading around $50-$60 million a day in stablecoins.
Stablecoins, which are digital assets pegged to the value of a stable asset like the US dollar, could offer non-US traditional finance (TradFi) investors a way to address foreign exchange challenges. This is particularly relevant given the US move to T+1 for equity settlement. Other financial institutions also see the potential in stablecoins. In September 2025, Citi announced that stablecoin transaction volumes could increase from 1% to 10% of US M2 transactions and represent 10% of foreign currency-based transactions by 2030.
Standard Chartered and Zodia Markets anticipate a substantial growth in stablecoins' transaction volumes, potentially reaching 10% of US M2 and 10% of FX transactions. This growth is expected to be driven by U.S. regulation and could provide non-US TradFi investors with a solution to foreign exchange challenges. Other financial institutions, like Citi, also recognise the potential of stablecoins in the future.
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