Stablecoins Now Hold $210 Billion. Here's How That Compares to Your Bank and Brokerage.

Group 1 - The stablecoin market is projected to reach $2 trillion in the next three years, representing a tenfold increase, driven by regulatory frameworks like the Genius Act [1] - Stablecoins are defined as blockchain-based currencies typically pegged to traditional currencies, offering fast and low-cost payment processing without geographical constraints [2] - Initially serving as a bridge between traditional money and cryptocurrencies, stablecoins are now being explored by banks, retailers, and other entities for integration into their operations [3] Group 2 - The total volume of stablecoins in circulation exceeds $210 billion, surpassing the customer payables of several brokerages [5] - Tether has approximately $150 billion in circulation, while Circle's USD Coin totals nearly $63 billion; in contrast, Robinhood has over $7 billion in liquid assets, and Morgan Stanley has over $200 billion in customer payables [6] - Despite the growth of stablecoin deposits, traditional banks remain dominant, with JPMorgan Chase holding $2.1 trillion in deposits and Bank of America and Wells Fargo combined holding $3.3 trillion [8] Group 3 - If the transaction volume of stablecoins continues to grow at the current rate, they could potentially surpass existing payment systems within a decade, although uncertainties remain regarding the industry's future development [9]