Moody's latest cross-industry outlook report forecasts that stablecoins will evolve into a fundamental component of institutional market infrastructure by 2026. The report highlights an expected 87% year-on-year growth in stablecoin settlement volume in 2025, reaching approximately $9 trillion. This growth is driven by the increasing use of fiat-backed stablecoins and tokenized deposits as "digital cash" for liquidity management and settlement in a tokenized financial system. The report also notes that banks, asset management firms, and market infrastructure providers are piloting blockchain settlement networks and tokenized platforms to enhance post-trade processes and liquidity management. Moody's estimates that these initiatives will attract over $300 billion in investment by 2030. The report underscores the importance of security, interoperability, and regulatory clarity for stablecoins to serve as reliable institutional settlement assets.