PANews reported on August 20th that the stablecoin market is in the early stages of rapid expansion and is expected to become a trillion-dollar industry in the future, according to a new Goldman Sachs research report. Stablecoins are digital tokens backed by the US dollar or US Treasury bonds. Their development is driven by new regulations and the huge potential of the payments market.

Goldman Sachs analysis indicates that the current global stablecoin market size is approximately US$271 billion and is expected to continue expanding at a compound annual growth rate of 40% in the next few years. USDC may grow by US$77 billion by 2027. Visa data shows that the global payment market size is approximately US$240 trillion, of which consumer payments account for US$40 trillion.

U.S. Treasury Secretary Scott Bessent previously stated that stablecoins will not only consolidate the dollar's position as a global reserve currency, but will also expand global access to the dollar economy and significantly increase demand for U.S. Treasury bonds. The GENIUS Act provides a clear regulatory framework for the stablecoin market, facilitating its rapid development.