Main Points :
- Over half (≈ 54 %) of global financial institutions and corporates not yet using stablecoins plan to adopt them within the next 6-12 months.
- Current users report substantial cost savings: about 41 % of adopters say they have reduced transaction or payment costs by ≥ 10 %.
- Regulatory uncertainty remains the top barrier to adoption (~73 %), but the U.S. GENIUS Act (signed July 18, 2025) provides new legal clarity, especially for USD-denominated stablecoins.
- By 2030, stablecoins are predicted to make up 5-10 % of global cross-border payments, representing $2.1-$4.2 trillion USD in value.
- Preferred stablecoins among early adopters include USDC (≈77 %), USDT (≈59 %), EURC (≈45 %), with growing interest in PYUSD and others.
- Key enablers for adoption: integration with existing banking / treasury / ERP systems; preference for accessing stablecoin services through existing banks; partnering with third-party providers for infrastructure like wallets, on/off-ramps.
Introduction
For enterprises, financial institutions, and innovators exploring the next major frontier in blockchain and digital assets, stablecoins are fast becoming more than just a speculative tool—they are edging into the domain of mainstream payments infrastructure. A recent EY-Parthenon survey of 350 decision-makers across corporates and financial firms indicates that stablecoin adoption is accelerating, largely due to regulatory clarity, cost-savings potential, and demand for faster, cross-border payments. The passage of the GENIUS Act on July 18, 2025 marks a significant inflection point in this trend.
Stablecoin Awareness and Adoption
Every organization surveyed is familiar with stablecoins. Yet only about 13 % are actively using stablecoins now, with adoption led more heavily by financial institutions (~23 %) than corporates (~9 %). Among those not using stablecoins currently, roughly 54 % expect to begin usage within the next 6 to 12 months. Interest is especially strong in cross-border applications: paying foreign suppliers or accepting inbound payments from business partners.
Cost Savings and Business Motivations
One of the most compelling reasons companies are moving toward stablecoins is cost savings. Of current stablecoin users, about 41 % report that stablecoins have cut their transaction/cross-border payment costs by 10 % or more. Other motivations include faster payment settlement, 24/7 operations (stablecoins don’t stop at bank-closing hours), improved liquidity, transparency/auditability, and new product or revenue streams.
Regulatory Landscape: The GENIUS Act
Regulation has long been cited as a major barrier. In fact, ~73 % of respondents said regulatory uncertainty is the top concern. The GENIUS Act, now law in the U.S., aims to address that for USD stablecoins (and related issuers) by:
- Establishing a licensing regime for “Permitted Payment Stablecoin Issuers” (PPSIs) including banks, non-banks with state/federal licenses, and foreign issuers.
- Requiring full reserves made up of high-quality liquid assets (e.g. U.S. dollars, Treasury bills, certain money market instruments), maintaining reserve backing, monthly attestations, transparency, etc.
- Clarifying oversight roles, audit or reserve disclosures, redemption rights, compliance obligations (AML/KYC etc.).
While GENIUS does not solve all challenges, it reduces one of the largest—regulatory ambiguity—paving the way for broader institutional trust and integration.
Forecasting Future Scale
According to EY-Parthenon estimates, stablecoins could account for 5-10 % of global cross-border payments by 2030, amounting to between $2.1 and $4.2 trillion USD. That includes business-to-business (B2B), peer-to-peer (P2P), business-to-consumer (B2C), consumer-to-business (C2B) flows—but excludes wholesale or trading/FX activities. This indicates substantial growth potential in commercial payment corridors.
Preferred Stablecoins and Technology Choices
Among current users, USDC is the most widely adopted stablecoin (~77 %), followed by USDT (~59 %), and EURC (~45 %). Others like PYUSD are also gaining attention.
From a technological/integration standpoint, key enablers include:
- Embedding stablecoin functionality into existing ERP, treasury, or banking systems. Organizations are more willing to adopt if stablecoin flows can be managed via familiar platforms.
- Using third-party providers for infrastructure: on/off-ramps, wallet services, custody, APIs.
Barriers and Risks
Even with regulatory progress, several concerns remain:
- Regulatory uncertainty still looms outside the U.S., and among smaller jurisdictions.
- Questions about tax/accounting treatment and operational complexity.
- Counterparty risk, liquidity concerns, reserve composition, volatility (especially for stablecoins pegged to non-USD currencies) or de-pegging.
- Integration with existing systems (ERP, treasury management), banking partner support, and internal education hurdles.
A recent academic paper comparing the U.S. GENIUS Act with the EU’s MiCA regulation (Markets in Crypto-Assets) suggests that GENIUS may lead to more rapid adoption in the U.S. due to embedding issuance within the banking system, but it also flags “fragility” under stress tests: redemption shocks in some simulations produce failure probabilities (if reserves or backing are imperfect) exceeding 8 %.
Recent Additional Trends
- The academic work “SoK: Stablecoins for Digital Transformation — Design, Metrics, and Application with Real World Asset Tokenization as a Case Study” has pushed forward framework thinking about stablecoin system design (custodial structure, stabilization mechanism, governance) and performance metrics, showing how stablecoins combined with tokenization of real-world assets can unlock further use cases.
- There is also increasing regulatory focus in other jurisdictions: the EU’s MiCA is being implemented; Hong Kong is working on its stablecoin bill; cross-border regulatory coordination is rising in importance.
Strategic Implications for Practitioners & Investors
For those seeking new crypto-asset opportunities or employing blockchain in business:
- Evaluate Market Fit: Corporates and financial institutions should map whether stablecoins can reduce cost, speed up payments, improve cash flow, or open new revenue lines. For payment corridors, supply chains, treasury operations, and cross-border payment flows are especially promising.
- Regulatory Readiness: With laws like GENIUS, having strong compliance (AML/KYC, auditing of reserves, redemption mechanisms) and transparent governance will be a requirement, not optional.
- Choose the Right Partners or Build Internally: Many organizations will rely on third-party providers for infrastructure; some may consider issuing stablecoins themselves, or working with banks or licensed issuers.
- Design for Liquidity & Reserve Safety: The robustness of reserve backing, capacity to redeem (especially under stress), and transparency will differentiate trusted stablecoins from less-reliable ones.
- Geographic and Jurisdiction Risk: Regulatory regimes differ; what is allowed or encouraged in the U.S. may differ elsewhere. Be alert to cross-border legal, tax, and regulatory mismatches.
Forecast: What’s Likely Before 2030
- More stablecoin issuance by regulated entities, including banks and nonbanks with proper licenses.
- Rising adoption in global trade finance, supply chain payments, and corporate treasury services.
- Stablecoins (especially USD-stable or similarly anchored) will likely dominate early use-cases; other fiat-pegged coins will grow, though risk/de-pegging concerns loom.
- Regulatory regimes elsewhere (EU, Asia, Hong Kong) will increasingly converge or at least attempt harmonization — to reduce friction in cross-border stablecoin usage.
- Innovation in tokenization of real-world assets will interplay with stablecoins for programmable money flows, new financial products.
Conclusion
Stablecoins, once a niche product mostly discussed in crypto circles, are now being seriously considered by the mainstream financial world. The combination of cost savings, speed, fluidity in cross-border payments, and clearer regulatory frameworks—especially via the U.S. GENIUS Act—are accelerating this shift. But adoption is not without risks: reserve and liquidity safety, regulatory harmonization, operational integration, and tax/accounting clarity are all key challenges. For investors, businesses, and blockchain practitioners, the next few years present a window of opportunity: those who move early, build responsibly, and ensure robust compliance and partner networks are likely to lead in a market that, by 2030, could see stablecoins handle trillions of dollars in payments globally.
