Standard Chartered’s latest digital assets report has pushed back its forecast for stablecoins to reach $2 trillion, from 2028 to 2030. Global stablecoin supply currently stands at around $309 billion and has largely hovered just above $300 billion over the past year, with growth clearly stalling. Interestingly, though, actual on-chain usage has remained active: monthly transfer volumes this year are nearing $10 trillion on average, and May set a record of $19 trillion. With the US GENIUS Act scheduled to take effect in January 2027, regulatory hurdles mean the timeline for this next wave of capital to enter the market will have to be pushed back as well.