J.P. Morgan has revised its forecast for the stablecoin market, projecting it will reach $500 billion by 2028, significantly lower than earlier trillion-dollar estimates. The bank cited limited adoption of stablecoins for payments as a key factor behind the downward revision, noting that payment applications account for only $15 billion, or 6%, of total stablecoin demand. Stablecoins remain primarily used in cryptocurrency trading, decentralized finance (DeFi), and as collateral. Meanwhile, Standard Chartered's Geoffrey Kendrick anticipates the stablecoin market could reach $750 billion by the end of 2026, potentially influencing U.S. Treasury yield curves and demand for the U.S. dollar. In related financial news, JPMorgan's market value has surpassed the combined worth of its three largest rivals—Bank of America, Citigroup, and Wells Fargo. JPMorgan CEO Jamie Dimon acknowledged that major banks are lagging in the stablecoin race and highlighted the absence of collaboration among traditional banks to develop blockchain-based payment systems akin to Zelle. Despite JPMorgan's dominance, Dimon warned that fintech companies continue to pose competitive threats.