Wall Street bank JPMorgan says stablecoin market could grow to $600 billion by 2028

The bank said stablecoin growth is still mostly driven by crypto trading, and rising payments use may boost velocity more than supply. What to know : JPMorgan said stablecoin supply is up about $100 billion this year to roughly $308 billion, led by USDT and USDC. The bank's analysts expect steady growth into 2028, but well below the most bullish projections. Trading demand still dominates, and payments adoption may lift stablecoin velocity more than supply, the report said.