Digital Currencies: Cryptocurrencies, Stablecoins, and CBDCs on the Horizon 2025-2026

The United States, the European Union, and other global powers are preparing for shifts in the realm of cryptocurrencies, stablecoins, and central bank digital currencies (CBDCs).

Bitcoin: Expected to reach new all-time highs by the end of 2025, potentially reaching $200,000, according to Bernstein Research. Institutional investors, such as BlackRock, hold a significant share through Bitcoin ETFs.

Stablecoins: The US passed the GENIUS Act in July 2025, establishing a strict framework. Standard Chartered predicts the stablecoin market could reach $2 trillion by 2028. The ECB is completing the preparatory phase for the digital euro in October 2025, with a pilot introduction in 2026.

CBDCs: China is already using the digital yuan (e-CNY) in transactions. Russia is promoting the digital ruble with the goal of full circulation by 2025.

These developments are leading to a form of multi-currency in the international economy.