Standard Chartered说

标准特许的一份新报告预测，稳定币的总供应急剧激增 - 从今天到2028年底到233亿美元到2万亿美元

Standard Chartered's new report has some interesting claims about stablecoins reaching $2 trillion by 2028 and huge T-bill demand. However, the report itself is behind a paywall, making it difficult to verify the accuracy and completeness of the information presented.

Standard Charter的新报告有一些有趣的说法，即到2028年到2028年达到2万亿美元和巨大的T-Bill需求。但是，该报告本身是付费墙的背后，因此很难验证提供的信息的准确性和完整性。

It's important to approach such reports critically and cross-reference the data with other reliable sources to form an informed opinion. Additionally, considering the broader economic and regulatory context is crucial for understanding the implications of such a massive stablecoin market expansion.

重要的是要批判性报告并将数据与其他可靠来源交叉引用，以形成明智的意见。此外，考虑到更广泛的经济和监管环境对于理解这种大规模的稳定市场扩张的含义至关重要。

Here's a summary of the key takeaways from the report:

这是报告的关键要点的摘要：

* Standard Chartered forecasts a dramatic surge in the total supply of stablecoins—from $230 billion today to $2 trillion by the end of 2028.

*标准宪章预测，稳定币的总供应急剧激增 - 到2028年底，今天从2,300亿美元到2万亿美元。

* The report attributes this surge to the U.S. Congress's move to formally set rules for the digital dollar sector.

*该报告将这一激增归因于美国国会的举动，以正式为数字美元部门设定规则。

* The report mentions that the "Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act" could be signed into law this summer.

*该报告提到，今年夏天可以将“为美国稳定的指导和建立国家创新（Genius）法律签署为法律。

* The legislation recently passed the Senate Banking Committee and is expected to usher in a new era of legal clarity and institutional legitimacy for the stablecoin industry.

*该立法最近通过了参议院银行委员会，预计将为Stablecoin行业带来法律清晰和机构合法性的新时代。

* Standard Chartered estimates that stablecoin issuers would need to purchase around $1.6 trillion in T-bills over the next four years—roughly $400 billion annually.

*标准特许估计，Stablecoin发行人在未来四年内需要购买大约1.6万亿美元的T-Bills，每年4000亿美元。

* The industry could well account for the largest buying flow of any sector across all U.S. Treasuries.

*该行业可以很好地解释美国所有国库中任何行业最大的购买流量。

* Only foreign buyers have matched this scale post-COVID, and even then, it was more diversified across T-bills, notes, and bonds.

*只有外国买家才与此规模相匹配，即使那样，它在T-Bills，Notes和Bonds中的多元化也更加多样化。

* Such demand could play a pivotal role in supporting the U.S. government’s borrowing capacity, especially during President Donald Trump’s second term, should the estimated issuance volumes hold true.

*这种需求可能在支持美国政府的借贷能力方面发挥关键作用，尤其是在唐纳德·特朗普总统的第二任期期间，如果估计的发行量成立。

* With the GENIUS Act requiring reserve holdings to have a duration of 93 days or less, analysts expect stablecoin issuers to follow Circle’s reserve approach as the template.

*由于《天才法》要求储备金的持续时间为93天或更短的时间，分析师期望Stablecoin发行人遵循Circle的储备法作为模板。

* Circle currently holds 88% of its USDC reserves in short-term U.S. government bonds, averaging a 12-day duration.

* Circle目前持有其短期美国政府债券的88％的USDC储备，平均持续12天。

* Given that stablecoin issuers would likely prefer to avoid risk around the time of FOMC meetings, we see Circle’s shorter-duration holdings as a good indication of what the industry will adopt going forward.

*鉴于Stablecoin发行人可能更喜欢在FOMC会议期间避免风险，因此我们将Circle较短的持续资产视为很好地表明了该行业将采取的措施。

* If adopted industry-wide, that model would push total stablecoin-related T-bill holdings to $1.75 trillion by 2028, up from just $150 billion today.

*如果在整个行业范围内采用，该模型将在2028年将与StableCoin相关的T-Bill持有量提高到1.7.5万亿美元，高于今天的1500亿美元。

Overall, Standard Chartered's report provides a glimpse into the potential expansion of the stablecoin market and its implications for the U.S. Treasury market. However, it's crucial to approach these figures with caution and consider the broader economic context to fully evaluate the report's claims.

总体而言，标准Charter的报告可瞥见Stablecoin市场的潜在扩张及其对美国财政市场的影响。但是，至关重要的是要谨慎处理这些数字，并考虑更广泛的经济环境来充分评估报告的主张。