According to online reports, JPM strategists said in a research report released on Thursday that the stablecoin market is expected to grow to US$500 billion by 2028. Compared with some aggressive forecasts, which predict that the market value will reach US$1 trillion to US$2 trillion over the same period, this forecast is more conservative. JPMorgan offered a more cautious view of the industry's growth path, pointing out that the main driver of current stablecoin use is still "crypto-native demand" rather than adoption in broader payment scenarios.