Autor Cointelegraph By Sam Bourgi

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Standard Chartered says stablecoin transaction activity continues to grow even as the market’s overall value has stalled, suggesting existing stablecoins are circulating more frequently rather than new supply driving growth.In a report shared with Cointelegraph, the bank said it now expects stablecoin market capitalization to reach $2 trillion by 2030, two years later than initially projected, after the market plateaued at roughly $309 billion this year.Geoffrey Kendrick, StanChart’s head of digital assets research, said stablecoin usage continues to expand despite slower supply growth, with existing stablecoins changing hands more frequently as their use cases diversify.Kendrick identified four distinct markets, each with different competitive dynamics. Tether’s USDt (USDT) dominates emerging-market savings, while Circle’s USDC (USDC) leads developed-market payments. USDC and Ethena’s USDe have established strong positions in crypto trading, while USDC also leads the much smaller market for transactions between AI agents.The bank expects the most intense competition in developed market payments, where challengers such as USDG, M^0 and multibank stablecoin networks are pursuing alternatives to existing payment infrastructure.According to Kendrick, how issuers and payment networks divide the yield generated by stablecoin reserves could ultimately determine which competitors gain market share.Source: Standard CharteredRelated: Crypto’s billions are back, but the premiums aren’tUS regulatory and accounting changes could shape stablecoin useStandard Chartered’s revised forecast comes as regulatory and accounting developments in the United States could influence how businesses use stablecoins.Since the GENIUS Act passed in 2025, US regulators have proposed rules governing stablecoin issuance, reserve requirements and consumer protections. Some measures have also clarified the limits of those protections, including a Federal Deposit Insurance Corporation (FDIC) proposal that would exclude stablecoin holders from pass-through deposit insurance.The Treasury Department has also advanced implementation of the law. In August, it proposed rules restricting stablecoin issuance in the United States to federally or state-authorized issuers, with the licensing requirements expected to take effect in January 2027.Separately, in August, the Financial Accounting Standards Board (FASB), which sets US accounting standards, proposed an update that could affect how companies report certain stablecoins on their balance sheets.Blockchain payments company Tempo said the proposed changes could make it easier for businesses to use stablecoins for payments and settlement without introducing additional accounting complications.Related: Crypto Biz: Wall Street and crypto fight for the same turf

Most trading in tokenized stocks on major blockchains now takes place outside regular US market hours, offering an early indication that around-the-clock trading could be one of the biggest advantages of putting equities onchain.According to Blockworks data cited by The Kobeissi Letter, more than 70% of tokenized stock trading volume on BNB Chain occurs outside the traditional 9:30 am to 4 pm Eastern trading session. The figure is 63% on Solana and nearly 60% on Base.Meanwhile, Jupiter, a major Solana-based trading platform, reported a 50% month-over-month increase in tokenized asset trading volume.Source: The Kobeissi LetterThe figures suggest investors use tokenized stocks to trade when traditional US exchanges are closed, rather than simply replicating activity during regular market hours. The growth comes as tokenized stock values have increased by 15% over the past 30 days to nearly $3.3 billion, according to RWA.xyz data. A significant portion of that value is concentrated among issuers such as Ondo Global Markets, xStocks and bStocks, whose tokens are issued and traded across different blockchains.Related: Winners and losers of the SEC’s new tokenized stocks rulesWall Street moves toward onchain stock tradingThe growth in round-the-clock trading comes as US regulators begin opening the door to tokenized equities in traditional markets. Last month, the Securities and Exchange Commission (SEC) introduced an “innovation exemption” allowing qualifying venues to trade tokenized US-listed stocks on public blockchains.SEC Commissioner Mark Uyeda said participating venues must publish transaction data in US dollars, including trade prices, sizes, timestamps and daily trading volumes. They must also disclose liquidity pool addresses and balances.Unlike existing tokenized stock products such as xStocks and Ondo Global Markets, which are generally unavailable to US investors, the SEC exemption allows qualifying venues to offer tokenized US equities domestically, provided they preserve shareholder rights and meet trading and disclosure requirements.Related: Crypto Biz: Wealthy investors are buying crypto, but their advisers aren’t soldCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Strive, a publicly traded Bitcoin treasury company, increased its holdings by more than 11% last week as investors exercised $208 million in warrants, with Bitcoin purchases outpacing share issuance and giving existing shareholders greater exposure to the cryptocurrency.In a Tuesday filing with the US Securities and Exchange Commission, Strive disclosed that it purchased 3,311 Bitcoin (BTC) in the week ending Oct. 9 at an average price of approximately $84,500 per coin. The purchases brought its total holdings to 32,773 BTC, making it the fifth-largest publicly traded corporate Bitcoin holder, according to industry data.At last look on Tuesday, Bitcoin was trading hands at roughly $83,300 apiece, according to Yahoo Finance data. The Strive (ASST) share price was little changed at $27.52.Strive Chairman and CEO Matt Cole said on X that investors had exercised $208 million in warrants, with approximately 15.3 million remaining ahead of their Tuesday expiration.Source: Matt ColeThe company also amended its governing documents to set a binding $100 minimum issuance price for its SATA preferred shares, limiting its ability to issue them below that threshold. Those shares were trading at $99.40, at last look.Strive’s latest purchases increased its Bitcoin holdings per share even as the company issued additional equity. During the reporting period, its Bitcoin reserves grew 11.2%, outpacing a 9.4% increase in its effective common share count.Related: Treasury yields at 5% threaten extending Bitcoin’s best quarter since 2017Michael Saylor weighs in on Strive’s Bitcoin strategyStrive’s latest purchase drew praise from Michael Saylor, whose company, Strategy, pioneered the corporate Bitcoin treasury model.“Strive is turning demand for digital equity (ASST) and digital credit (SATA) into demand for Bitcoin,” Saylor wrote on X. “Its hypergrowth shows how the capital markets are accelerating Bitcoin adoption.”Saylor was referring to Strive’s use of common and preferred shares to raise capital for Bitcoin purchases, a strategy similar to Strategy’s own approach through its MSTR common stock and STRC preferred shares.Strategy added a comparatively modest 250 BTC to its treasury last week, bringing its total holdings to 848,250 BTC and maintaining its position as the largest publicly traded corporate Bitcoin holder.Related: Saylor teases Strategy Bitcoin buying after ending September with STRC buybacks

A new report from Stripe-backed blockchain Tempo argues that a proposed US accounting change could remove a major barrier to corporate stablecoin adoption by allowing qualifying tokens to be classified as cash equivalents on company balance sheets.The report examines an Accounting Standards Update the Financial Accounting Standards Board (FASB) proposed in August that could make stablecoins more practical for corporate treasury operations. Under current accounting practices, stablecoin holdings may not count toward a company’s reported cash reserves, affecting liquidity ratios and loan covenants even when the tokens are fully backed by dollars.The proposed change could let companies use stablecoins for payments and settlements without those accounting complications.According to Tempo, the FASB proposal would require companies to have direct redemption rights with stablecoin issuers. For example, buying USDC through an exchange would not necessarily let a company classify those tokens as cash equivalents.Tempo cites Coinbase, which classified USDC and other payment stablecoins as cash equivalents in its 2025 annual report, supported by its redemption arrangement with Circle.“Your contract with the issuer is what qualifies, and the token alone doesn’t get you there,” Tempo said.The FASB proposal remains open for public comment until Nov. 19. The board will review the feedback before finalizing the accounting changes and setting an effective date.Related: Crypto’s billions are back, but the premiums aren’tStablecoin regulation takes shape in the USThe FASB proposal follows the passage of the GENIUS Act in July 2025, which established the first comprehensive federal regulatory framework for payment stablecoins in the United States. The law is scheduled to take effect in January 2027, or 120 days after federal regulators finalize implementing rules, whichever comes first.While the GENIUS Act establishes requirements for stablecoin issuers, including reserve backing and redemption obligations, the FASB proposal addresses how companies account for stablecoins they hold.The developments come as the market for US dollar-backed stablecoins has surpassed $300 billion, according to DefiLlama data. The Trump administration is also reportedly exploring ways to promote dollar-backed stablecoins overseas, potentially reinforcing the US dollar’s role as the dominant reserve currency.According to Bloomberg, the administration is weighing partnerships with private companies to develop stablecoin projects overseas, potentially involving the Treasury Department, State Department and US International Development Finance Corporation (DFC). Related: US Treasury proposes GENIUS Act rules targeting illicit finance