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According to evaluations by the Atlantic Council, a neutral research organization, stablecoins may play a decisive role in the adoption of the US dollar. The study indicates that the current size of the stablecoin market is relatively small compared to other financial markets.
Potential Changes in Dollar Reserves
The analysis highlights that the $227 billion stablecoin market is small against the $6.22 trillion US capital market and the $3.39 trillion cryptocurrency market. However, if the current double-digit growth rates continue, the market value of stablecoins could increase significantly.
The research emphasizes that the vast majority of stablecoins are pegged to the US dollar. The rapid transaction volume and adoption rates support the idea that they could create different impacts in reserve currency markets in the future.
Policy and Future Expectations
It is noted that the share of the US dollar in global currency reserves has decreased from 71% in 2001 to 54.8% today. This trend lays the groundwork for the expectation that the adoption of stablecoins could reverse the dollar’s declining dominance.
The study also mentions that policy choices made by 2025 could play a significant role in the evolution of the stablecoin and dollar markets.
Future assessments suggest that the rising popularity of stablecoins could have indirect effects on the global financial structure, potentially increasing the likelihood of various currencies coexisting in the market. Legislators in the US aim to approve regulations regarding stablecoins within 100 days.
The findings indicate that actions taken by regulatory bodies and policymakers could reshape balances within the global monetary system. Moreover, the data suggests that changes in the market should be closely monitored.
