JPMorgan Chase: Alipay and WeChat Pay are not a blueprint for stablecoin expansion in the future

BlockBeats News, July 4th, JPMorgan Chase predicts that by 2028, the growth of stablecoins will only reach $500 billion. They believe that the trillion-dollar forecast is "overly optimistic" as there is little evidence to suggest that USD-pegged cryptocurrency tokens will be widely adopted. Currently, stablecoin payment applications are still limited, accounting for only 6% of demand, or about $15 billion, mainly concentrated in cryptocurrency trading, decentralized finance, and collateralized lending.

Furthermore, regarding Ant Group's plan to apply for a stablecoin license in Hong Kong through its overseas subsidiary Ant International (which operates the mobile payment app Alipay), JPMorgan Chase stated that the rapid expansion of the digital yuan and the success of Alipay and WeChat Pay are not a template for future stablecoin expansion. (Reuters)