90% of Financial Institutions Adopt Stablecoins for Cross-Border Payments

According to a report by digital asset platform Fireblocks, 90% of financial institutions are either actively using or planning to integrate stablecoins into their operations. The study, which surveyed 295 executives from traditional banks, financial institutions, fintech companies, and payment gateways, revealed that nearly half of the respondents (49%) are already using stablecoins for payments, 23% are in the pilot testing phase, and 18% are in the planning stages. Only 10% of the participants have not yet decided on implementation.

The report highlights that the adoption of stablecoins is driven by the need to avoid obsolescence as customer demand accelerates and use cases mature. Traditional cross-border payment systems are plagued by high costs, delays, and inefficiencies, making stablecoins a strategic solution, particularly in emerging markets. Financial institutions, especially traditional banks, are prioritizing cross-border payments as a key area for stablecoin use. Banks are leveraging these tools to gain a competitive advantage, reduce friction, and meet customer expectations.

The study found that 58% of traditional banks use stablecoins for cross-border payments, 28% accept payments with them, 12% use them to optimize liquidity, 9% for merchant payments, and another 9% for B2B invoicing. Fireblocks notes that banks view stablecoins as a "path to modernization" due to their integration with fiat currencies, which makes them easier to incorporate into existing treasury processes. Additionally, stablecoins provide an opportunity to regain market share from fintech companies and reduce capital lock-in.

Survey results indicate that banks are using stablecoins to rebuild cross-border transaction volumes while maintaining existing infrastructure. Fintech companies and payment gateways are utilizing digital assets to increase margins and revenues. The most commonly cited benefit of stablecoins is faster settlement, mentioned by 48% of respondents. Other benefits include greater transparency, improved liquidity management, integrated payment flows, enhanced security, and lower transaction costs.

Ran Goldi, senior vice president of payments and network at Fireblocks, stated that the adoption of stablecoins has moved beyond simple cost savings and is now seen as a strategic growth driver. "Our research shows that 90% of companies are moving forward with the adoption of stablecoins because they see it as a key lever for growth," Goldi reported. The main motivators for adoption include entering new markets, responding to direct customer demand, and opening up new revenue opportunities. "Stablecoins have become an engine of business innovation, not just a tool to increase efficiency," he added.

Fireblocks' survey demonstrates that stablecoins have evolved from a niche financial instrument to a strategic solution for traditional institutions. The financial sector is actively transforming, mastering digital technologies to improve efficiency and competitiveness. As stablecoins become more widely used, the regulatory environment is playing an increasingly significant role in shaping adoption strategies. Governments and financial regulators worldwide are working to establish clear guidelines for the issuance, management, and use of stablecoins to ensure consumer protection, prevent illicit activities, and maintain financial system stability.

Many executives surveyed by Fireblocks cited regulatory clarity as a key factor influencing their decision to adopt stablecoins. In regions with comprehensive regulations or forthcoming guidelines, institutions report greater confidence in integrating these digital assets into their operations. Conversely, uncertainty or restrictive policies can slow down innovation and delay implementation. Collaboration between regulators and the private sector will be essential to unlocking the full potential of stablecoins, helping financial institutions leverage these digital assets to drive efficiency, enhance customer experiences, and support the digital transformation of the global financial system.