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市場調查報告書
商品編碼
1946112
全球穩定幣市場:預測(至 2034 年)—按類型、錨定資產、區塊鏈平台、應用、最終用戶、分銷管道和地區進行分析Stablecoin Market Forecasts to 2034 - Global Analysis By Type, Pegged Asset, Blockchain Platform, Application, End User, Distribution Channel, and By Geography |
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根據 Stratistics MRC 的研究,預計到 2026 年,全球穩定幣市場規模將達到 2,241 億美元,並在預測期內以 15.5% 的複合年成長率成長,到 2034 年將達到 7,097 億美元。
穩定幣是與法定貨幣或其他資產掛鉤的數位貨幣,旨在維持支付、交易和去中心化金融活動中的價格穩定。這包括發行方、區塊鏈平台、錢包、交易所和合規服務。成長要素包括對快速低成本國際匯款的需求、加密貨幣市場的波動管理、數位資產的日益普及、在匯款和支付領域的應用不斷擴大,以及在更清晰的法規結構支持下機構投資者參與度的提高。
根據國際清算銀行(BIS)的數據,到 2024 年,穩定幣的未償餘額將超過 1,200 億美元。
加密貨幣交易和去中心化金融(DeFi)中價格穩定的必要性
穩定幣扮演著至關重要的「流動性橋樑」角色,使交易者無需回歸傳統法幣體系即可從波動性較大的加密資產頭寸中撤資。這一特性有助於在藉貸通訊協定中實現無縫抵押,並確保智慧合約的交易成本可預測。透過降低數位資產固有的價格波動性,穩定幣提供了一種可靠的記帳單位,從而能夠有效地擴展諸如收益耕作和自動建市(AMM)等複雜的金融活動,使其在全球網路中得以蓬勃發展。
對儲備透明度和交易對手風險的擔憂
某些儲備金構成如同「黑箱」一般,這常常令投資者和機構投資者猶豫不決,他們擔心資金支持不足可能導致災難性的脫鉤事件。依賴中心化機構保管高品質流動性資產會造成單點故障。如果託管機構破產或遭遇法律糾紛,數十億美元的資產價值可能會被凍結。缺乏第三方機構的即時審核導致信心不足,並阻礙了穩定幣廣泛融入傳統投資組合。
開發符合監管規定的受監管穩定幣
歐盟的《貨幣資訊與應用法案》(MiCA) 和美國的《天才法案》(GENIUS Act) 等清晰的法律體制的出現,為合規穩定幣的發展帶來了重大機會。這些受監管的資產為主流金融機構和支付處理商提供了必要的法律確定性,使其能夠採用區塊鏈技術進行支付。透過在既定的嚴格框架內運營,發行方可以提供作為「避險天堂」的數位資產,從而吸引規避風險的企業財務部門。這種向受監管產品的轉變將催生可程式設計商業和跨境B2B支付等領域的新應用場景,使穩定幣從投機交易工具轉變為未來全球網際網路原生金融的基礎層。
銀行業監理嚴格的可能性
嚴格的銀行監管政策對穩定幣產業的營運柔軟性和創新能力構成重大威脅。如果全球監管機構對穩定資本充足率和流動性比率要求,合規成本的增加可能會使許多現有發行機構的經營模式難以為繼。這種嚴格的監管可能會阻礙去中心化匯款的速度和低成本,並使市場集中在少數幾家老牌金融巨頭手中。
新冠疫情成為穩定幣市場的強勁催化劑,導致對數位流動性的需求空前激增。由於傳統金融市場面臨劇烈波動,實體銀行服務受限,投資人紛紛轉向穩定幣,將其視為加密貨幣生態系統中可靠的「避風港」。這段時期加速了穩定幣用途從投機性轉變為功能性用途的轉變,尤其是在匯款和跨境支付領域。全球全天候非接觸式數位交易的加速發展,鞏固了穩定幣在後疫情時代日益去中心化的經濟中作為關鍵基礎設施的地位。
在預測期內,法幣支持的穩定幣領域預計將佔據最大的市場佔有率。
在預測期內,法幣支持的穩定幣預計將佔據最大的市場佔有率。這一主導地位主要源自於用戶對美元和歐元等傳統政府發行貨幣的信心和熟悉程度。這些資產由受監管金融機構持有的流動性儲備1:1支持,為機構投資者提供了最直接的參與途徑。中心化交易所和付款閘道的廣泛採用鞏固了其作為主要流動性來源的地位,憑藉其卓越的穩定性,使其在演算法交易和加密貨幣支援的替代方案中保持優勢。
在預測期內,企業和商家細分市場預計將呈現最高的複合年成長率。
在預測期內,企業和商家領域預計將實現最高成長率。這一快速成長源於企業日益認知到穩定幣能夠顯著降低跨境支付的成本和時間。企業擴大將穩定幣用於供應鏈金融和全球薪水支付,因為它們可以避免代理銀行系統帶來的數天延遲和高額費用。透過將穩定幣支付整合到電子商務平台,零售商可以觸及沒有銀行帳戶的客戶,同時消除扣回爭議帳款風險和高額交易費用。
在預測期內,北美預計將佔據最大的市場佔有率。這一主導地位得益於其強大的金融科技生態系統以及主要穩定幣發行機構在美國的集中。該地區受益於高度發展的機構投資環境,將數位資產納入多元化投資組合的趨勢正在加速發展。此外,一系列突破性法規的推出為銀行和金融科技公司發行受監管的代幣提供了清晰的路徑。美元作為世界儲備貨幣的主導地位,自然而然地使總部位於北美的與美元掛鉤的穩定幣成為流動性最強、使用最廣泛的資產。
在預測期內,亞太地區預計將呈現最高的複合年成長率。這一爆炸式成長得益於該地區快速的數位轉型以及香港、新加坡和日本等地區政府的積極舉措。亞太地區智慧型手機普及率高,電子商務產業快速發展,為基於穩定幣的零售和企業對企業支付提供了沃土。此外,該地區的大規模匯款管道預計將從區塊鏈技術帶來的效率提升中獲益匪淺。隨著各國央行和私營機構在可互通的數位貨幣計劃上合作,亞太地區可望引領全球穩定幣的日常實際應用。
According to Stratistics MRC, the Global Stablecoin Market is accounted for $224.1 billion in 2026 and is expected to reach $709.7 billion by 2034 growing at a CAGR of 15.5% during the forecast period. The stablecoin includes digital currencies pegged to fiat money or other assets to maintain price stability for payments, trading, and decentralized finance activities. It covers issuers, blockchain platforms, wallets, exchanges, and compliance services. Growth is driven by demand for fast and low-cost cross-border payments, volatility management in crypto markets, rising adoption of digital assets, expanding use in remittances and settlement, and increasing institutional participation supported by clearer regulatory frameworks.
According to the Bank for International Settlements, the outstanding supply of stablecoins exceeded USD 120 billion in 2024.
Need for price stability in crypto trading and DeFi
Stablecoins serve as the essential "liquidity bridge," allowing traders to exit volatile crypto positions without converting back into legacy fiat systems. This functionality facilitates seamless collateralization in lending protocols and ensures predictable transaction costs for smart contracts. By mitigating the inherent price swings of digital assets, stablecoins provide a reliable unit of account, enabling complex financial activities like yield farming and automated market making to scale effectively across global networks.
Concerns over reserve transparency and counterparty risk
Investors and institutional players often hesitate due to the "black box" nature of some reserve compositions, fearing that inadequate backing could lead to catastrophic de-pegging events. The reliance on centralized entities to hold high-quality liquid assets introduces a single point of failure, where the insolvency or legal troubles of a custodian could freeze billions in value. This lack of real-time, third-party verified auditing creates a trust deficit that slows the broader integration of stablecoins into traditional portfolios.
Development of compliant, regulated stablecoins
The emergence of clear legal frameworks, such as the EU's MiCA and the U.S. GENIUS Act, presents a massive opportunity for the growth of compliant stablecoins. These regulated assets offer the legal certainty required for mainstream financial institutions and payment processors to adopt blockchain technology for settlement. By operating within established prudential boundaries, issuers can provide "safe haven" digital assets that attract risk-averse corporate treasuries. This shift toward regulated instruments unlocks new use cases in programmable commerce and cross-border B2B payments, transforming stablecoins from speculative trading tools into a foundational layer for the future of global internet-native finance.
Potential for stringent banking-style regulation
The prospect of heavy-handed, banking-style regulation poses a significant threat to the operational flexibility and innovation of the stablecoin sector. If global regulators impose capital adequacy requirements and liquidity ratios identical to traditional commercial banks, many current issuers may find their business models unsustainable due to increased compliance costs. Such stringent oversight could stifle the speed and low-cost nature of decentralized transfers, potentially centralizing the market around a few legacy financial giants.
The COVID-19 pandemic acted as a powerful catalyst for the stablecoin market, driving an unprecedented surge in demand for digital-first liquidity. As traditional financial markets faced extreme volatility and physical banking access was restricted, investors pivoted toward stablecoins as a reliable "safe haven" within the crypto ecosystem. This period accelerated the shift from speculative use to functional utility, particularly in the remittance and cross-border payment sectors. The global push for contactless, 24/7 digital transactions solidified the role of stablecoins as essential infrastructure for a post-pandemic, increasingly decentralized economy.
The fiat-backed stablecoins segment is expected to be the largest during the forecast period
The fiat-backed stablecoins segment is expected to account for the largest market share during the forecast period. This dominance is primarily driven by the high level of trust and familiarity that users associate with traditional government-issued currencies like the U.S. Dollar and Euro. Because these assets are collateralized 1:1 with liquid reserves held in regulated financial institutions, they provide the most straightforward path for institutional entry. Their widespread adoption across centralized exchanges and payment gateways ensures they remain the primary liquidity source, maintaining their lead over algorithmic or crypto-collateralized alternatives through superior stability.
The enterprises and merchants segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the enterprises and merchants segment is predicted to witness the highest growth rate. This rapid acceleration is fueled by the growing realization among businesses that stablecoins can drastically reduce the cost and time of cross-border settlements. By bypassing the multi-day delays and high fees of the correspondent banking system, enterprises are increasingly utilizing stablecoins for supply chain financing and global payroll. The integration of stablecoin payment rails into e-commerce platforms allows merchants to reach unbanked populations while eliminating the risk of chargebacks and high transaction fees.
During the forecast period, the North America region is expected to hold the largest market share. This leadership is underpinned by a robust financial technology ecosystem and the concentration of major stablecoin issuers within the United States. The region benefits from a highly developed institutional investment landscape that is increasingly incorporating digital assets into diversified portfolios. Furthermore, the introduction of landmark legislation has provided a clear roadmap for banks and fintech firms to launch their own regulated tokens. The dominance of the U.S. Dollar as the global reserve currency naturally positions North American-based, dollar-pegged stablecoins as the most liquid and widely utilized assets.
Over the forecast period, the Asia Pacific region is anticipated to exhibit the highest CAGR. This explosive growth is driven by the region's rapid digital transformation and the proactive stance of governments in jurisdictions like Hong Kong, Singapore, and Japan. High smartphone penetration and a burgeoning e-commerce sector make Asia Pacific a fertile ground for stablecoin-based retail and B2B payments. Additionally, the region's massive remittance corridors stand to benefit significantly from the efficiency gains offered by blockchain technology. As central banks and private institutions collaborate on interoperable digital currency projects, Asia Pacific is set to lead the world in the practical, daily application of stablecoins.
Key players in the market
Some of the key players in Stablecoin Market include Tether Limited, Circle Internet Financial, Inc., Paxos Trust Company, LLC, Gemini Trust Company, LLC, TrustToken, MakerDAO, PayPal Holdings, Inc., Coinbase Global, Inc., Binance Holdings Limited, BitGo, Inc., Huobi Technology Holdings Limited, Anchorage Digital Bank, N.A., and Kraken Financial.
In February 2026, Circle announced a partnership with Polymarket to migrate the platform's settlement layer to native USDC, ensuring higher transaction speeds and better regulatory compliance for the world's largest prediction market.
In January 2026, Tether launched USA₮, a dollar-backed stablecoin issued by Anchorage Digital Bank that is fully compliant with the GENIUS Act, the new federal framework for regulated stablecoins in the United States.
Note: Tables for North America, Europe, APAC, South America, and Rest of the World (RoW) Regions are also represented in the same manner as above.