The impact of stablecoin market capitalization growth reaching $1.15 trillion has been assessed., 2026/03/11 13:50:41

Analysts from the American investment firm Jefferies have suggested that the market capitalization of stablecoins could exceed $1.15 trillion within the next five years.

According to investment experts, the rapid expansion of tokens pegged to national currencies is beginning to exert pressure on the banking services market. While stablecoins are unlikely to trigger a significant outflow of funds, analysts estimate that banks may lose approximately 3–5% of their deposit volume over the next five years.

“The medium-term risks of a gradual shift of deposits away from the banking system due to the emergence of new payment tools and yield opportunities cannot be overlooked,” the Jefferies team noted.

Stablecoins have become a crucial component of the cryptocurrency infrastructure and are widely utilized not only for trading but also for everyday transactions, corporate treasury operations, and cross-border remittances.

“This poses a significant challenge for banks. Stablecoins effectively operate as digital cash, available for use around the clock. Furthermore, they provide users access to DeFi platforms, where yields are often higher than those of traditional bank deposits,” the specialists from Jefferies explained.

Currently, regulation remains the primary constraint on the further growth of the stablecoin market. The proposed CLARITY bill in the U.S., which addresses the structure of the cryptocurrency market, may diminish the appeal of stablecoins as a savings instrument, investment analysts fear.

Nevertheless, several major financial institutions are already attempting to adapt to the new environment. Fidelity Investments has launched its own stablecoin, FIDD, while Bank of America and Goldman Sachs are considering the introduction of similar digital assets. Jefferies estimates that banks with a high proportion of retail and interest-bearing deposits, such as Wintrust, Flagstar, WBS, EagleBank, and Axos, may be particularly vulnerable to potential fund outflows.

In contrast, large corporations and funds, as well as banks investing in crypto infrastructure, are in a more stable position, although they too may face declines in profitability, investment experts concluded.

Previously, Lee Hardman, a currency market analyst at the largest Japanese banking group Mitsubishi UFJ Financial Group (MUFG), referred to stablecoins as a more practical form of money compared to volatile cryptocurrencies like Bitcoin.