美元固定的穩定穩定階層可以到2028年達到約2萬億美元的總市值

Stablecoins的累積穩定性上限目前約為2,300億美元，但“ [E] Volving Market Dynamics有可能加速StabableCoins的軌跡，到2028年達到〜2TN的市值

The United States Department of the Treasury has revealed that US Dollar-pegged stablecoins are on track to reach an aggregate market capitalization of approximately $2 trillion by 2028.

美國財政部已透露，到2028年，美元固定的穩定穩定人數可以達到總計約2萬億美元的總市值。

Stablecoins’ cumulative market cap currently stands at roughly $230 billion, but “[e]volving market dynamics [have] the potential to accelerate stablecoins’ trajectory to reach ~$2tn in market cap by 2028,” according to the Treasury’s Q1 2025 report, published on April 30.

Stablecoins的累積穩定性上限目前約為2,300億美元，但“ [E] Volving Market Dynamics具有加速Stablecoins的軌蹟的潛力，到2028年達到市值約為2TN，”據《國債》 2025年的第1季度2025年報告，在4月30日發布。

A stablecoin is a cryptocurrency whose value is pegged to a traditional asset like the US dollar. According to the report, such tokens are already “ubiquitously utilized as ‘cash on-chain,’ effectively serving as a new payment mechanism.”

Stablecoin是一種加密貨幣，其價值與美元這樣的傳統資產掛鉤。根據該報告，這種代幣已經被“普遍存在用作'現金鍊'，實際上是一種新的付款機制。”

Additionally, the emergence of “tokenized [money market funds] has recently created an alternative option to stablecoins, primarily given their yield-bearing feature,” the report reads.

此外，“貨幣市場基金”的出現最近創造了一種替代選擇，主要賦予了其屈服功能，”該報告寫道。

Related: Stablecoins boosting demand for US T-bills: Treasury Dept

相關：Stablecoins提高對美國T-Bills的需求：財政部

Embracing tokenization

擁抱令牌化

The report is the latest example of how the US government is embracing blockchain technology, especially after US President Donald Trump commenced his second term of office on Jan. 20.

該報告是美國政府如何採用區塊鏈技術的最新例子，尤其是在美國總統唐納德·特朗普（Donald Trump）於1月20日開始任期第二任期之後。

The Treasury previously endorsed cryptocurrency in December, highlighting how the technology promises to create “new financial market infrastructure,” potentially increasing global demand for US Treasury bills. US Dollar-pegged stablecoins such as Tether (USDT) and USDC (USDC) typically invest fiat backing into yield-bearing instruments such as US Treasurys.

國庫此前曾在12月認可加密貨幣，強調了該技術有望建立“新金融市場基礎設施”，這可能會增加全球對美國國債賬單的需求。美元固定的穩定股（如Tether（USDT）和USDC（USDC））通常會投資於諸如美國國債等承重工具。

“[B]ecause most stablecoin collateral reportedly consists of either Treasury bills or Treasury-backed repurchase agreement transactions, the growth in stablecoins has likely resulted in a modest increase in demand for short-dated Treasury securities,” the Treasury said in December.

該國庫在12月說：“據報導，大多數穩定抵押品是由財政賬單或財政支持的回購協議交易組成的，因此，穩定幣的增長可能導致對短期庫存證券需求的適度增加。”

In its April report, the Treasury said that pending stablecoin legislation would “require stablecoin issuers to hold [short-dated] T-bills,” thus solidifying the link between stablecoin adoption and US Treasury bill demand.

財政部在4月份的報告中表示，即將到來的Stablecoin立法將“要求Stablecoin發行人持有[短期] T-Bills”，從而鞏固了Stablecoin採用與美國國庫券需求之間的聯繫。

The report also noted that the rapid proliferation of stablecoins could put pressure on retail banks to pay higher interest rates to depositors.

該報告還指出，穩定幣的快速擴散可能會給零售銀行施加壓力，要求向存款人支付更高的利率。

As of April 25, Tether’s USDT is the dominant stablecoin, commanding approximately 66% of market share, according to a report by researcher Nansen.

根據研究人員Nansen的報告，截至4月25日，Tether的USDT是主要的Stablecoin，約佔市場份額的66％。

The token has a market capitalization of roughly $150 billion, according to CoinGecko. Circle’s USDC ranks second, with a market capitalization of approximately $60 billion as of April 30.

據Coingecko稱，令牌的市值約為1500億美元。 Circle的USDC排名第二，截至4月30日，市值約為600億美元。

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雜誌：電視命中Peaky Blinders推出加密遊戲，Polkadot上的FIFA競爭對手：Web3遊戲玩家