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JPMorgan: Alipay and WeChat Pay are not templates for stablecoin expansion in the future
Summary: In a recent report, JPMorgan predicts that stablecoin growth will only reach $500 billion by 2028, deeming trillion-dollar forecasts too optimistic. There is little evidence to suggest that cryptocurrencies pegged to the US dollar will be widely adopted. Currently, stablecoin payment applications remain limited, accounting for only 6% of demand, approximately $15 billion, mainly concentrated ...
In a recent report, JPMorgan predicts that stablecoin growth will only reach $500 billion by 2028, deeming trillion-dollar forecasts too optimistic. There is little evidence to suggest that cryptocurrencies pegged to the US dollar will be widely adopted. Currently, stablecoin payment applications remain limited, accounting for only 6% of demand, approximately $15 billion, mainly concentrated in cryptocurrency trading, decentralized finance, and collateral sectors.
Furthermore, regarding Ant Group's plan to apply for a stablecoin license in Hong Kong through its overseas subsidiary Ant International (operating the mobile payment app Alipay), JPMorgan stated that the rapid expansion of digital yuan and the success of Alipay and WeChat Pay are not templates for future stablecoin expansion. (Reuters)
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