Stablecoins See 'Everyday Money' Use
A global survey from BVNK found that stablecoins are increasingly being used for daily financial activities beyond trading. The study of 4,600 users across 15 countries revealed that 39% now receive income in stablecoins, including salaries and freelance pay. Furthermore, 77% of respondents said they would open a stablecoin wallet with their primary fintech or banking provider, signaling strong demand for integrated services.
- The total market capitalization of stablecoins reached $203 billion by the end of 2024, a significant increase from $131 billion the previous year. The two largest stablecoins, Tether (USDT) and USD Coin (USDC), dominate the market, with a combined circulation of over $180 billion. - In July 2025, the U.S. passed the "Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act," creating a federal framework for stablecoin issuers. This legislation requires issuers to maintain 1:1 reserves with highly liquid assets and established a joint state and federal oversight system. - The European Union's Markets in Crypto-Assets (MiCA) regulation, which came into effect in 2024, also establishes a licensing regime for stablecoin issuers. However, it includes a provision to potentially restrict non-euro-denominated stablecoins if their daily transaction volume becomes too high, aiming to protect the euro's monetary sovereignty. - Both Visa and Mastercard are actively integrating stablecoins into their networks. Visa has been piloting stablecoin treasury operations and cross-border B2B payments, while Mastercard has expanded its Mastercard Move service to include stablecoin transfers and supports over 100 crypto-focused card programs. - While stablecoin transaction volumes are substantial, a significant portion is attributed to automated bot activity on crypto exchanges rather than direct payments for goods and services. However, B2B cross-border payments are a rapidly growing use case, with some payment processors reporting that stablecoins now represent nearly 60% of all crypto payment volume. - Major corporations are beginning to explore stablecoins for treasury operations and supplier payments to reduce settlement times and costs associated with traditional banking rails. For example, enterprise software company SAP has been testing the use of stablecoins for cross-border payments. - Despite the growth of stablecoins, neither of the major U.S. real-time payment networks, RTP and FedNow, currently supports stablecoin integration for direct cross-border transactions. Financial institutions are seen as the necessary bridge to connect stablecoin platforms with these instant payment rails for seamless fiat conversion. - Adoption for cross-border payments varies significantly by region, with Latin America leading due to currency volatility and high costs of traditional finance. In contrast, European adoption is more focused on regulatory compliance under the MiCA framework.
