JPMorgan: Forecasting a $2 trillion market for stablecoins is "overly optimistic"

According to reports, JPMorgan Chase released a report questioning the predicted $2 trillion size of the stablecoin market, stating that the number is "too optimistic." Analysts point out that the current market size of $260 billion may only see a 2-3 times growth in the next few years, far below the expected breakthrough of $2 trillion by 2028 as previously proposed by the US Treasury Secretary. The report notes that although the "GENIUS Act" has established a regulatory framework for stablecoins, it will still take time for payment infrastructure and ecosystems to be perfected. Currently, USDT and USDC hold over 60% of the market share, but stablecoins only account for 1% of global fund flows. Analysts believe that due to investors' conservative attitudes towards cash management, it will be difficult for stablecoins to become a mainstream alternative for liquidity in the short term. JPMorgan Chase emphasizes that although stablecoins have the advantage of instant settlement in cross-border payments, merchant acceptance is still higher than that of ordinary consumers.