BNY Mellon predicts that the combined market for stablecoins and tokenized cash could reach $3.6 trillion by 2030, with stablecoins alone accounting for 41.6% of this figure. Meanwhile, tokenized deposits and digital money-market funds (MMFs) are expected to account for the remaining 58.3%.
This comes as more institutions adopt them and regulatory frameworks improve. The company released a report on Monday that shows how stablecoins, tokenized deposits, and money market funds will change financial markets.
More institutions use stablecoins and tokenized cash deposits
BNY says more financial institutions are using stablecoins today than ever before and that the token alone will grow to $1.5 trillion by 2030. Because organizations can quickly execute large transactions without waiting days for traditional bank transfers to clear, they feel secure using stablecoins for most of their financial activities.
Tokenized deposits and money market funds are expected to be worth $2.1 trillion, accounting for approximately $3.6 trillion of the total that BNY anticipates will be reached by 2030.
Read more: cryptopolitan.com
