The mainstream adoption of stablecoins is increasingly tied to adoption by major technology companies, according to an analysis from Bitwise. The firm’s chief investment officer pointed to recent pilot programs by Meta and DoorDash as critical indicators. He argues that such integration by large players is necessary for the stablecoin market to grow from its current $318 billion valuation toward a projected $4 trillion by 2030.
Stablecoins are more likely to achieve mainstream use if adopted by major technology companies. This shift could help push the market toward a projected $4 trillion valuation by the end of the decade, according to analysts.
Bitwise chief investment officer Matt Hougan stated that recent use of stablecoins by DoorDash and Meta for payments in limited projects is likely the key application. “On a relative basis, these are not a big deal. Both are pilot projects and the dollar amounts are small,” Hougan wrote.
“But they’ve answered a question I’ve had about stablecoins for a long time,” he added. Multiple large non-crypto institutions have been testing stablecoin technology for payments and creator payouts.
The total market value of all stablecoins is currently just under $318 billion. However, projections like one from Citigroup suggest the market could reach $4 trillion by 2030 in a best-case scenario.
To reach that scale, stablecoins must expand beyond crypto trading into everyday payments. Hougan said this expansion will require the support of very large corporate players.
He argued that stablecoins simplify global payments infrastructure for multinational businesses. “One wallet address, no banking infrastructure, no currency conversions,” Hougan explained.
Companies in the US have grown more confident following the passage of the GENIUS Act last year. The legislation regulates stablecoin issuers and establishes a framework for asset backing.
Visa is among the companies that have adopted stablecoins, recently expanding its pilot to include five more blockchains. Meanwhile, US banks have lobbied to restrict stablecoins, claiming they threaten bank deposits.
The Senate is currently shaping legislation that includes a clause banning rewards on idle stablecoin holdings. However, banking groups argue this proposed compromise does not go far enough to protect their interests.
