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Banking giant Citigroup says 2025 could be a “ChatGPT moment” in terms of adoption for stablecoins and blockchain technology. “The main catalyst for their greater acceptance may be regulatory clarity in the US, which could enable greater integration of stablecoins specifically, and blockchain more widely, into the existing financial system,” financial analysts at the bank said in an April 23 report . Citigroup Sees Stablecoin Market Cap Soaring To $3.7 Trillion By 2030 “The tailwinds of regulatory support and the increased integration of digital assets into incumbent financial institutions are setting the stage for increased usage for stablecoins,” the Citigroup analysts said in the report. With the anticipated surge in usage for stablecoins, the banking titan predicted that the market cap for stablecoins could soar to as high as $3.7 trillion by the end of the decade in a bull case. In a base case, this figure is expected to rise to $1.6 trill...

BRICS member China is on a US treasuries and agency bonds dumping spree and offloaded billions worth of assets. The latest data from the US Treasury Department shows that China has trimmed its holdings from $816.3 billion in December to $767.4 billion in March this year. That’s a reduction of $48.9 billion during just the first quarter of 2024. Also Read: 10 U.S. Sectors To Be Affected if ASEAN Ditches the Dollar In addition, BRICS member China has sold another $25.1 billion during the Q2 of 2024. In total, China has offloaded $72 billion worth of US treasuries and agency bonds in the last seven months alone. Reports suggest that China is diversifying its assets and purchasing tonnes of gold to its central bank reserves. The World Gold Council reported that China and other BRICS countries have been the largest buyers of gold since late 2022. The gold accumulation began when BRICS kick-started the de-dollarization agenda to challenge the US dollar’s global s...