JPMorgan Chase: Stablecoin infrastructure is immature, US Treasury Secretary says it is too optimistic to break 2 trillion

Since the U.S. Stablecoin Bill Concept Emerged to Legislation Confirmation, the Trump Administration Has Continuously Praised the Bill. Treasury Secretary Scott Bessent Even Directly Stated in an Interview That the Stablecoin Market Could Potentially Exceed $2 Trillion in the Future. However, JPMorgan Told Bloomberg on 7/24 That the Current Infrastructure Supporting Stablecoins Is Not Yet Comprehensive, Believing the Market Size Reaching "$2 Trillion" Is Somewhat Overly Optimistic. Treasury Secretary Bessent Pointed Out at a Senate Hearing on 6/11: "Assuming the Stablecoin Market Has Clear Legislative Support, the Market Size Could Potentially Exceed $2 Trillion Within Three Years, Thereby Creating Trillions of Dollars in Demand." According to , the Current Stablecoin Market Cap Is $270 Billion, Which, Following Bessent's Statement, Would Grow Nearly 7.5 Times in Three Years. However, JPMorgan Stated This Projection Is "Somewhat Too Optimistic", Further Noting: "Since the Infrastructure and Ecosystem Supporting Stablecoins Are Not Yet Mature and Require More Time to Perfect, It's Difficult to Believe the Stablecoin Market Could Dramatically Expand to This Figure in Just a Few Years." JPMorgan Reminded That While Stablecoins Are Touted as Potentially Disrupting Traditional Financial Systems and Enabling Instant Cross-Border Transactions with 24/7 Service, They Currently Represent Less Than 1% of Global Cash Flow, Indicating a Long Way to Truly Shake the Financial System. JPMorgan Added That Stablecoin Market Cap Has Indeed Grown Significantly in Recent Years, with Tether's USDT and Circle's USDC Accounting for Over 60% Market Share, But This Remains Far from the $2 Trillion Scale. Following the Current Growth Trajectory, the Market Might at Most Double or Triple. JPMorgan Stated That While Stablecoins Can Reportedly Bypass Credit Card Intermediaries and Potentially Save Costs for Merchants, They Hold Little Attraction for General Consumers, As Stablecoin Issuers Can Earn Interest by Investing Reserve Funds in U.S. Bonds or Bank Deposits, While Users Only Benefit from Convenient Transfers Without Additional Returns. The Was Recently Officially Signed into Law by Trump, Temporarily Eliminating Regulatory Concerns in the U.S. Crypto Industry. However, JPMorgan Remains Conservative, Believing Infrastructure Still Needs Strengthening and the Market Cannot Explosively Grow Instantly. Risk Warning: Cryptocurrency Investment Carries High Risk. Prices May Fluctuate Dramatically, and You May Lose All Principal. Please Carefully Assess Risks.