El ascenso de las stablecoins en los pagos P2P: una nueva era para las finanzas descentralizadas?

The global financial landscape is undergoing a seismic shift, driven by the rapid adoption of stablecoins in peer-to-peer (P2P) payments. By 2025, stablecoins have emerged as a cornerstone of decentralized finance (DeFi), reshaping cross-border transactions, remittances, and treasury management. According to a report by TRM Labs, stablecoins accounted for 30% of all on-chain crypto transaction volume in the first half of 2025, with annual transaction volumes exceeding $4 trillion-a 83% increase compared to 2024. This surge is not merely speculative; it reflects a fundamental reimagining of how value is transferred, stored, and managed in a digital-first economy.

The Drivers of Adoption: Efficiency, Speed, and Regulatory Clarity

Stablecoins are gaining traction in P2P payments due to their inherent advantages over traditional systems. For instance, cross-border transactions that once took days and incurred fees of 8–12% can now be settled in minutes at costs as low as 1%. This efficiency is particularly transformative in emerging markets, where high inflation and foreign exchange (FX) volatility create urgent demand for stable, accessible alternatives. In Nigeria, for example, stablecoins have become a lifeline for businesses and individuals, enabling low-cost international transfers and hedging against the naira's devaluation. Similarly, in Argentina and Ethiopia, stablecoins like USDC are being used to preserve purchasing power amid double-digit inflation.

Regulatory clarity is another critical enabler. The U.S. GENIUS Act and the EU's Markets in Crypto-Assets (MiCA) framework have provided institutional-grade compliance structures, encouraging traditional financial institutions to integrate stablecoins into their operations. By mid-2025, nearly 50% of surveyed financial institutions reported active use of stablecoins, signaling a shift from skepticism to strategic adoption. This regulatory progress, coupled with technological innovations like permissionless blockchains and programmable smart contracts, is creating a hybrid financial ecosystem where stablecoins coexist with central bank digital currencies (CBDCs) and legacy systems according to research.

Case Studies: Emerging Markets as Laboratories of Innovation

The adoption of stablecoins in emerging markets offers a glimpse into their transformative potential. In Sub-Saharan Africa, stablecoins now constitute 43% of crypto transaction volume, driven by their role in cross-border remittances and inflation protection. Yellow Card, a pan-African fintech, has leveraged stablecoins to facilitate instant international transfers for businesses in agriculture and pharmaceuticals, bypassing traditional banking bottlenecks. For example, a Nigerian food producer importing ingredients from the UK used stablecoins to secure 70% of its required USD liquidity-a feat impossible through conventional channels.

Ethiopia's experience is equally instructive. Following a 30% currency devaluation in 2025, stablecoin transfers surged by 180%, with businesses and individuals using them to hedge against local currency instability. Meanwhile, in Brazil, stablecoins are being integrated into payroll systems and supply chain financing, reducing settlement delays and FX costs by up to 70%. These case studies underscore a broader trend: stablecoins are not just a tool for cost reduction but a redefinition of financial infrastructure in regions where traditional systems are either inadequate or prohibitively expensive.

Technological Innovations: Scaling Security and Sustainability

The scalability and security of stablecoin infrastructure have improved dramatically in 2025, thanks to advancements in blockchain technology and compliance tools. Platforms like Bitpace and Fireblocks have developed multi-party computation (MPC) protocols and automated compliance engines to mitigate risks such as single points of failure and regulatory non-compliance. For instance, smart contracts now enable real-time compliance checks, ensuring adherence to anti-money laundering (AML) and travel rule requirements.

Permissionless blockchains, such as Ethereum and Solana, have further enhanced the accessibility of stablecoin networks. These platforms offer universal access, composability, and borderless transaction capabilities, enabling seamless integration with global payment systems. As a result, stablecoins are increasingly being used for B2B settlements, gig economy payouts, and DeFi applications, where programmable money and real-time liquidity are critical.

Challenges and Risks: A Path Forward

Despite their promise, stablecoins face significant challenges. Regulatory fragmentation remains a hurdle, with divergent approaches across jurisdictions-from China's outright ban to Singapore's transparent framework. Additionally, stablecoins could disrupt traditional banking by displacing deposits, altering liquidity risk profiles for financial institutions. However, regulated infrastructure and licensed providers are mitigating these risks by ensuring transparency and institutional trust.

The path forward requires a balance between innovation and oversight. As the Federal Reserve notes, stablecoins must coexist with traditional systems while addressing concerns around financial stability and consumer protection. This necessitates global collaboration to harmonize regulatory standards and foster interoperability between digital and legacy financial rails.

Conclusion: A New Financial Paradigm

Stablecoins are not a fleeting trend but a foundational shift in how value is transferred globally. Their ability to combine the speed and cost-efficiency of digital assets with the stability of fiat currencies positions them as a critical component of the next-generation financial system. For investors, the opportunities are vast: from infrastructure projects enhancing security to DeFi platforms leveraging programmable money. However, success will depend on navigating regulatory complexities and ensuring sustainable scalability. As the world moves toward a more interconnected and digital economy, stablecoins are poised to redefine the rules of the game-offering a glimpse into a future where finance is faster, fairer, and more inclusive.