Analysts believe that stablecoins will operate at the “ultra-fast level of financial settlement”, that is, using second-layer solutions based on ETH

The Fed is taking measures to tighten supervision of controlled state-owned banks that conduct operations with digital currencies. The regulator wants to oblige financial institutions to obtain permission in writing before the structures make a decision on the issue, storage or transfer involving dollar tokens.

In addition, the Fed insists that banks are required to have risk management practices in the context of cybersecurity, liquidity, customer compliance and anti-money laundering. The regulator also intends to control the provision of banking infrastructure to organizations related to cryptocurrencies and blockchain. Supervisors will voluntarily initiate audits of financial institutions for compliance with US law.

Over the next five years, the total capitalization of stablecoins will increase from the current $125 billion to $2.8 trillion. Such information is contained in the new Bernstein report.

Experts are sure that integration with various services will become a “growth wheel” for crypto assets pegged to the US dollar.

“We expect major financial and consumer platforms to jointly issue stablecoins to implement the exchange of value,” said Gautam Chhugani, an expert at the company.

Bernstein said that the stablecoins will operate at a “super-fast financial settlement level”, that is, using ETH-based layer 2 solutions. The growth of this direction, in their opinion, will be based on “regulated, onshore stablecoins.” As proof of their conclusion, the experts pointed to Singapore, Hong Kong and Japan, where pilot projects with “stable coins” and CBDC have already been launched.

And experts from The Block pointed out that the capitalization of stablecoins has been falling for more than 12 months. At the same time, there are many positive events for the crypto market in the industry.

The capitalization of “stable coins” showed a maximum in the spring of 2022, reaching $181 billion. However, after the collapse of the Terra project, the figure fell to $154 billion, and then reached $122 billion.

But analysts believe that the trend may change. This can be facilitated by the release of its own stablecoin by the PayPal payment platform. The attitude of regulators towards stablecoins is also changing.