• Treasury may boost T-Bill issuance as stablecoins eye $2 trillion market cap: StanChart The bank said stablecoins may generate up to $1 trillion in fresh Treasury bill demand by 2028, allowing the government to ramp up issuance and suspend 30-year bond auctions. • What to know: Standard Chartered expects the stablecoin market cap to reach $2 trillion by the end of 2028, generating up to $1 trillion in fresh Treasury bill demand. • Combined with roughly $1.2 trillion in projected Fed buying, total new T-bill demand could reach about $2.2 trillion through 2028, compared with around $1.3 trillion in supply, leaving a potential gap of roughly $900 billion. • The bank said the Treasury could boost bill issuance, potentially pausing 30-year auctions, to meet rising demand at the front end. • Standard Chartered still expects the stablecoin market to reach $2 trillion by the end of 2028, which should translate into around $1 trillion in new Treasury bill demand, the bank said in a Monday report. • As of early 2026, the total stablecoin market capitalization is roughly $300-$320 billion.
Article Summaries:
- Standard Chartered estimates that the stable‑coin market could reach a $2 trillion cap by 2028, generating roughly $1 trillion in new Treasury‑bill demand as issuers park inflows in short‑dated debt. Combined with an additional $1-1.2 trillion of projected Fed purchases, total demand could hit about $2.2 trillion, versus only $1.3 trillion of net new supply, creating a potential $900 billion shortfall. The bank suggests the Treasury could raise the share of T‑bill issuance-potentially pausing 30‑year bond auctions for three years-to meet this front‑end demand. Current stable‑coin capitalization sits near $300-$320 billion.
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