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0.000315945783703588 0.000315945783703588 -0.000505513253925526 -3.15945783703229E-05 0.00255916084799849 0.00382294398281266 0.00579760513095964 0.00579760513095964
Stock impact report

Wall Street bank JPMorgan says stablecoin market could grow to $600 billion by 2028 [Yahoo! Finance]

JP Morgan Chase & Co. (JPM) 
Last jp morgan chase & co. earnings: 4/14 06:43 am Check Earnings Report
Company Research Source: Yahoo! Finance
Stablecoin demand is still primarily a crypto-market story, not a payments story, according to the largest U.S. bank by assets. JPMorgan noted that the stablecoin market has grown about $100 billion this year to roughly $308 billion, led by Tether's USDT and Circle's (CRCL) USDC. Demand is still driven mainly by crypto trading and collateral needs across derivatives and decentralized finance (DeFi), with derivatives venues adding about $20 billion in stablecoin holdings alongside a surge in perpetual futures activity, the report said. "The vast majority of stablecoin demand stems from their use as cash or collateral in the crypto ecosystem to facilitate crypto trading including derivatives trading, DeFi lending and borrowing," wrote analysts led by Nikolaos Panigirtzoglou, in the Wednesday report. Stablecoins are cryptocurrencies pegged to assets such as fiat currencies or gold, but most often the U.S. dollar. They underpin much of the crypto economy, serving as payment rails Show less Read more
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