Citi說

花旗的全球觀點和解決方案部門上週發布了一份新報告，預測了十年結束前區塊鍊和Stablecoins的重大增長。

Citi has forecasted that U.S. dollar stablecoins could surge to $3.7 trillion in the bull case, driving an unprecedented blockchain-fueled transformation of global finance by 2030.

花旗預測，美元穩定幣在公牛案中可能會飆升至3.7萬億美元，在2030年之前推動了前所未有的區塊鏈燃料的轉型。

The bank’s Global Perspectives and Solutions division released a new report titled “Digital Dollars—Banks and Public Sector Drive Blockchain Adoption” last week, forecasting major growth in blockchain and stablecoins by the end of the decade.

該銀行的全球觀點和解決方案部門在上週發布了一份名為“銀行和公共部門驅動區的採用”的新報告，上週預測了十年結束前區塊鍊和Stablecoins的主要增長。

The team at Citi believes that blockchain adoption in finance and government is entering a pivotal phase, fueled largely by regulatory shifts in the United States. Citi’s analysts highlighted: “2025 has the potential to be blockchain’s ‘ChatGPT’ moment for adoption in the financial and public sector, driven by regulatory change.” The report reflected a broad consensus that the coming months could mark a transformative period as blockchain and stablecoins move into mainstream financial infrastructure.

花旗的團隊認為，財務和政府的區塊鏈採用正在進入關鍵階段，這在很大程度上是由美國的監管轉變所推動的。花旗的分析師強調：“ 2025年有可能成為區塊鏈的“ Chatgpt”時刻，以在監管變化的驅動下，在金融和公共部門採用。”該報告反映了一個廣泛的共識，即未來幾個月可能標誌著區塊鍊和Stablecoins進入主流金融基礎設施。

The most striking prediction focused on the future of stablecoins, with Citi providing multiple growth scenarios. The analysts projected:

最引人注目的預測集中在Stablecoins的未來，花旗提供了多種增長方案。分析師預計：

The total outstanding supply of stablecoins could grow to $1.6 trillion by 2030 in our base case and to $3.7 trillion by 2030 in our bull case.

在我們的基本案例中，到2030年，穩定幣的總未償還供應可以增長到1.6萬億美元，到2030年，在我們的牛案中，可以增長到3.7萬億美元。

“That said, the number could be closer to half a trillion dollars if adoption and integration challenges persist,” they noted. The report explained that favorable regulation, technological improvements, and growing institutional adoption could lead to an explosive rise in stablecoin usage globally. However, the team also cautioned that market expansion is not guaranteed if risks such as depegging events or regulatory fragmentation materialize.

他們指出：“也就是說，如果採用和集成挑戰持續存在，這個數字可能接近一萬億美元。”該報告解釋說，有利的法規，技術改進和製度採用不斷增長可能會導致全球使用Stablecoin的爆炸性增加。但是，團隊還警告說，如果諸如挑戰事件或監管分裂之類的風險實現，則不能保證市場擴張。

In terms of currency composition, Citi indicated that U.S. dollar-backed stablecoins would continue to dominate over the coming years, despite international competition. The report stated:

在貨幣構成方面，花旗表明，儘管國際競爭，但在未來幾年中，美元支持的穩定幣仍將繼續占主導地位。報告指出：

We expect the stablecoin supply will remain U.S. dollar denominated (approx. 90%), with non-U.S. countries promoting national currency CBDCs.

我們預計，穩定的供應將仍然以美元計價（約90％），非美國國家促進國家貨幣CBDC。

While dollar dominance is likely to persist through 2030, Citi analysts noted that efforts in Europe and China to push local currency digital alternatives could slightly shift market dynamics. Overall, the findings suggest that while blockchain and stablecoins face substantial challenges ahead, they are positioned to become an even greater force in reshaping global finance by the end of the decade.

儘管美元優勢可能會持續到2030年，但花旗分析師指出，歐洲和中國推動當地貨幣數字替代方案的努力可能會稍微改變市場動態。總體而言，調查結果表明，儘管區塊鍊和Stablecoins面臨著未來的重大挑戰，但在十年末，它們將成為重塑全球融資的更大力量。