Standard Chartered projects that the expanding scale of stablecoins could generate up to $1 trillion in additional demand for U.S. Treasuries, primarily short-term T-bills, by 2028. The bank's report highlights that stablecoin issuers typically use short-term U.S. Treasuries as reserve assets. A significant increase in stablecoin supply could create a structural buying force in the U.S. short-term Treasury market, potentially allowing the U.S. Treasury to adjust its debt issuance structure.