Stablecoins are rapidly gaining traction in the financial ecosystem, with an increasing number of corporations and institutions recognizing their potential to transform global payment systems, according to a recent survey conducted by EY-Parthenon.
The report indicates that 13% of financial firms and businesses around the world have already integrated stablecoins into their operations. Notably, over half of those yet to adopt these digital currencies anticipate implementation within the next six to twelve months. This signifies a significant shift in the landscape of international finance.
Furthermore, EY-Parthenon projects that by 2030, stablecoins could facilitate between 5% to 10% of cross-border payments, translating to an estimated value of $2.1 trillion to $4.2 trillion. This surge in utilization reflects a growing demand for quicker settlement times, reduced transaction costs, and heightened liquidity within the financial sector.
According to the report, the current adopters of stablecoins are already witnessing financial advantages, with 41% reporting cost reductions of at least 10%. “Stablecoins—enabled by blockchain technology and backed by stable assets such as cash and U.S. Treasuries—are emerging as a new catalyst for growth and innovation across global markets,” says the report.
Among the organizations not yet using stablecoins, a striking 80% are actively investigating the possibility of integrating them into their financial frameworks. Moreover, 60% of these firms anticipate a rise in interest in stablecoins over the coming year. Many banks and financial organizations are preparing to offer stablecoin solutions by either developing in-house systems or forming partnerships with external service providers.
However, several barriers impede broader adoption. The report notes that only 8% of corporations currently accept stablecoins due to challenges around infrastructure and integration. Increased adoption rates could be achieved as more vendors become involved, and as companies work on aligning stablecoin systems with their existing treasury and ERP platforms.
“Integrating stablecoins with existing financial infrastructures is critical,” the report highlights. A significant 56% of corporates expressed a preference for embedded APIs within their current treasury software, while 70% indicated they would be more willing to adopt stablecoins if ERP integration options were offered.
The report’s insights come shortly after the enactment of the GENIUS Act, legislation focused on stablecoins that has been recognized as a pivotal moment in the advancement of digital payment systems. Experts believe the regulatory clarity brought about by this law is likely to accelerate the growth of stablecoins in the financial landscape.
Currently, the market capitalization for stablecoins stands at nearly $291 billion, marking a staggering 69% increase from one year ago, as reported by DeFiLlama. This upward trajectory illustrates the significant and growing role that stablecoins are expected to play in shaping the future of global transactions.
