Stablecoins May Experience a "ChatGPT Moment," Potentially Driving the Market to $4 Trillion, Says Citi

Citi has updated its outlook for the stablecoin sector, now anticipating the market could hit $4 trillion by 2030—an increase from its earlier optimistic estimate of $3.7 trillion. The bank credits this rapid growth to what it calls blockchain’s “ChatGPT moment,” as stablecoins accelerate their move into the mainstream.

analysts Ronit Ghose and Ryan Rugg pointed out that stablecoins are evolving into essential financial instruments for digital-first businesses and households in emerging markets, with the capacity to facilitate up to $200 trillion in yearly transactions. The analysis highlights that regulatory advancements, such as the U.S. Genius Act signed by President Trump, are spurring corporate adoption and infrastructure expansion.

According to Citi, the stablecoin market is currently valued at $280 billion, with 88% of its use tied to crypto-centric activities including trading, DeFi collateral, and treasury operations. Payments represent only 6% of usage, but industry figures like Confirmo CEO Anna Strebl have observed rapid growth in practical, real-world applications. Business-to-business stablecoin payments have soared from less than $100 million in 2022 to over $3 billion by 2025, indicating a transition from a niche product to a mainstream financial tool. The Genius Act, as the first federal regulatory guideline for stablecoins, has further validated the industry, prompting large companies to focus on onchain solutions.

Citi’s projections differ from JPMorgan’s more cautious $500 billion estimate for 2028, which is based on limited mainstream uptake and continued dependence on crypto-native demand. JPMorgan maintains that stablecoins still face obstacles such as low returns and difficulties in converting to fiat, which limit their ability to replace conventional financial products like money market funds or digital wallets. In contrast, Citi and Standard Chartered—which predicts a $2 trillion market by 2028 if regulations are favorable—believe that institutional support and infrastructure improvements will pave the way for widespread adoption.

The report also notes a significant increase in stablecoin startup activity, with fundraising reaching $537 million in 2025—five times higher than in 2024. Leading companies such as

and are scaling up rapidly, with Tether reportedly seeking to raise $20 billion at a $500 billion valuation. Citi predicts that the future will feature a broad range of stablecoin issuers operating alongside traditional financial institutions, fueled by growing demand for U.S. Treasuries and more efficient cross-border settlements.

Although forecasts vary, experts agree that stablecoins are transforming the global financial landscape. Edward Carroll from MHC Digital Group stressed the importance of the GENIUS Act in enabling instant settlements and regulatory compliance, which benefits blockchains such as

, , and . Citi’s base scenario projects a $1.9 trillion market, with its most optimistic case reaching $4 trillion, both depending on regulatory clarity and technological progress—setting up stablecoins as a foundational element of the digital economy by 2030.