JPMorgan Chase: US stablecoin battle could be a zero-sum game
Source: CoinWorld
Time: 2025-09-19 22:30:45
JPMorgan pointed out that since 2020, the stablecoin sector with a scale of $270 billion still accounts for less than 8% of the total market value of cryptocurrencies, which may turn newly issued stablecoins in the United States into a zero-sum game without market expansion. Tether plans to launch fully compatible USAT tokens in the United States, while Circle faces competition from Hyperliquid, PayPal, Robinhood and Revolut. Circle is developing its Arc blockchain to enhance the role of USDC, as USDC supply has soared to $72.5 billion, 25% higher than Bernstein’s forecast for 2025.