Citi Raises Stablecoin Forecasts, Sees $100T Payments Potential by 2030

Stablecoins are accelerating faster than analysts anticipated, with Citi now projecting the market could process up to $100 trillion in annual payments by 2030. The bank revised its decade-end issuance forecast upward from $1.6 trillion to $1.9 trillion—with a bull case reaching $4 trillion—after observing a 40% surge in circulating supply since January 2025.

Dollar-pegged tokens remain the dominant force, indirectly bolstering demand for U.S. Treasuries, though financial hubs like Hong Kong and the UAE are experimenting with alternative implementations. Citi frames the evolution as complementary infrastructure development rather than winner-takes-all competition, with stablecoins coexisting alongside tokenized bank deposits and central bank digital currencies.