Coinbase says that stablecoins can quad in $ 1.2 T by 2028

Us Crypto Exchange Coinbase predicts that the Stablescoin market could more than quadruple by 2028 to reach 1.2 billion of dollars.

In a report of August 21, entitled “New SteableCoin growth framework”, Coinbase said that growth in the sector will be “supported by an improving political landscape and accelerating adoption trends”. The market capitalization of the sector is at 288.39 billion dollars now, aCording to CoinmarketCap.

Coinbase said the Stablescoin market has increased at an annual growth rate made up of approximately 65% ​​since 2021. Average adjusted transaction volumes have also increased to 15.8 dollars for the seven months until July 31, compared to $ 10.3 billion compared to the same period in 2024, the report.

The request for the demand for Stablecoin does not much push the yields of the American treasury

As the stablecoins develop, the demand for transmitters for American cash bills will also soar. Coinbase provides that the Treasury will have to issue about 5.3 billion dollars of new short -term debts each week for three consecutive years just to meet demand.

Private stable issuers like Tether and Circle have already become the best buyers of the American government’s debt, even eclips like South Korea, the United Arab Emirates (Water) and Germany, noted the report.

The stablecoins already hold more American treasury bills than Germany – the third largest national economy in the world. pic.twitter.com/th1wryekch

– Bitwise (@bitwiseinvest) August 22, 2025

The USDT of Tether and the USDC of Circle are currently the largest stablecoins of the market capitalization, and the only two “were the seventh buyer of the US treasury bills in 2025 YTD until June 30,” wrote Coinbase.

The largest stablecoins by market capitalization (source: Coinmarketcap))

Some analysts have expressed their concern that the demand for stablecoins will push the yields of the treasury much lower, which makes the government to borrow the government.

But Coinbase argues that although the stablecoin demand will increase yields, it will only lower the treasury yields by around 4.5 base points (0.045%).

“Our reference estimates suggest that the impact of the yields of T T-3-month T is low during week 1 and develops in weeks 2-3 before shrinking,” wrote Coinbase.

“We think that forecasts do not require dislocations of unrealistic or permanent rate to materialize; instead, it is based on an incrementality and political compatible adoption,” added the exchange.

Coinbase also mentioned the July signature of the Act on Engineering, which, according to exchange, “could reduce the risk that significant redemptions are transformed into a forced sales cascade”.

Other countries forced to consider legalizing their own stablecoins

Stablecoins with USD have dominated the market so far, but the signing of the engineering law has forced other countries to consider legalizing their own stablecoins to remain competitive with the United States in the digital race.

As such, the South Korea Financial Services Commission (FSC), a government regulator, has announced that a complete stablecoin regulatory bill will be submitted to the country’s legislature in October.

China has also pivoted its long history of opposite cryptocurrencies and private money when it would have indicated that it could allow the stablecoins supported by the Yuan to start circulating on the market.

However, the deployment of any stablecoins supported by the Yuan would probably be limited to the special economic zones, according to analysts.

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