Stablecoins Set to Soar: $3.7T by 2030?

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  • The GENIUS Act, a bill that’s *finally* made it through the Senate, and it’s the first of its kind! Move over, other bills.
  • Galaxy Research’s Alex Thorn suggests that this thing could end up on the President’s desk by August—just in time for some late summer drama.

Well, folks, the GENIUS Act passed the Senate with a vote of 68-30 (yes, 18 Democrats hopped on board for this one) on June 17th. And guess what? It’s the very first major crypto bill to break this barrier—ain’t that something?

Now, in a move that’ll make your crypto-enthusiast uncle grin like a Cheshire cat, U.S. Treasury Secretary Scott Bessent tossed out a prediction that stablecoins might hit a market value of $3.7 trillion by 2030. Yep, that’s trillion with a T.

“Recent reports are forecasting that stablecoins could skyrocket to a $3.7 trillion market by the end of this decade. The GENIUS Act makes that look more likely.”

Bessent went on to explain how this boom would help lower national debt, thanks to all those T-bills stablecoin issuers will need to back their digital dollars. Oh, and by 2028, he expects this market to cross $2 trillion. Let’s just say the numbers are looking good for the stablecoin gang.

Can the GENIUS Act make it into law by August? Is that even possible?

Meanwhile, crypto and AI bigwig David Sacks praised Senator Bill Hagerty (yes, the guy who put this gem together) and Trump’s leadership for getting the ball rolling on this bill. Apparently, this law would be a game-changer, ushering in the ‘U.S. dollar dominance online.’

Hagerty, of course, jumped in to say that this bill will ‘improve efficiency’ and make payments faster and cheaper. Because, why not make your payments snappier while you’re at it?

“The efficiency of moving payments onto the blockchain will cut out a lot of unnecessary costs. Think of it as a ‘pay less, get more’ deal.”

Now, besides the crypto titans like Tether (USDT) and Circle (USDC), even the big dogs from traditional finance (that’s the ‘old school’ guys) are looking to hop on the stablecoin gravy train.

JP Morgan has already tested its JPMD stablecoin on Ethereum’s Base, gearing up for institutional clients. And Bank of America? Oh, they’re thinking about a digital dollar too, now that the regulatory fog is clearing up.

The sector’s been growing at an insane pace, but let’s be real—it’s been operating in the wild, wild west of no regulations. Take it from Ari Redbord, Global Head of Policy at TRM Labs:

“In Q1 2025, stablecoins made up 28% of all crypto transaction volume. Oh, and they accounted for 60% of all illicit transaction volume. Oops.”

But fear not! Redbord assures us that the GENIUS Act will clear things up and put some much-needed protections in place.

“The GENIUS Act marks a significant shift, aligning consumer protection and financial oversight with the demands of innovation. Who would’ve thought?”

Next up, the GENIUS Act will get reconciled with the House’s STABLE Act before it heads over to the President’s desk for action. Alex Thorn from Galaxy Research predicts that President Trump could sign this thing by August. You’ve got your popcorn ready, right?

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2025-06-18 11:25