Group 1 - The signing of the GENIUS Act by President Trump establishes the first federal regulatory framework for stablecoins, injecting vitality into the global stablecoin market, which has reached approximately $270 billion [1] - Goldman Sachs expresses skepticism about the potential for stablecoins to grow into the trillions and disrupt traditional financial services, suggesting that the likelihood of a complete overhaul is low [1] - Stablecoins are primarily used in cryptocurrency trading and offshore dollar acquisition, with the potential to reshape traditional financial systems through blockchain efficiency [1] Group 2 - Goldman Sachs predicts that stablecoins compliant with the GENIUS Act, such as USDC issued by Circle, will capture market share from USDT, with USDC expected to grow by $77 billion and a compound annual growth rate of 40% from 2024 to 2027 [2] - USDT currently holds the title of the largest stablecoin with a market capitalization of $165 billion, while Circle's USDC has a market cap of $66 billion [2] - Despite Circle's recent IPO and increased valuation, Goldman Sachs is more optimistic about Robinhood's ongoing innovation in the cryptocurrency sector [2]
法案落地开启“稳定币盛夏”高盛：颠覆传统金融？言之尚早！