Asia-Pacific's Stablecoin Surge Reshapes Global Financial Infrastructure

Asia-Pacific Region Emerges as Major Stablecoin Powerhouse

The Asia-Pacific region has solidified its position as a global leader in stablecoin adoption, with on-chain activity reaching $2.4 trillion between June 2024 and June 2025, according to a report by Circle. This growth underscores the region's rapid integration of stablecoins into mainstream financial and commercial systems, driven by high adoption rates, regulatory advancements, and cross-border transaction volumes. Singapore and China Hong Kong now rank as the second- and third-largest stablecoin markets globally, trailing only the United States.

Regulatory clarity has played a pivotal role in this surge. China Hong Kong introduced a dedicated stablecoin regulatory framework in August 2025, while the U.S. passed the GENIUS Act in June 2025, establishing legal guidelines for stablecoin issuance and oversight. Japan is also advancing its framework, with plans to launch yen-denominated stablecoins. These developments have attracted institutional interest, with corporate stablecoin transactions jumping from under $100 million in early 2023 to over $3 billion by early 2025.

Businesses across the Asia-Pacific are increasingly adopting stablecoins for cross-border commerce and retail payments. Companies such as Singapore-based Wetrip, Capella Hotels, and luxury reseller Ginza Xiaoma now accept stablecoins for travel bookings, accommodation, and high-value goods. The Singapore-China corridor has become the most active route for cross-border stablecoin transactions, highlighting the region's strategic role in global digital finance.

Singapore, in particular, has emerged as a critical hub. The city-state's regulatory environment and financial infrastructure have enabled rapid adoption, with 56% of institutions in the region already live with stablecoins for payments, settlements, and treasury operations. The Monetary Authority of Singapore (MAS) has supported this growth, with officials emphasizing the need for innovative monetary tools like stablecoins. By May 2025, global stablecoin supply averaged $225 billion, a 63% increase year-over-year, reflecting deepening integration into commercial ecosystems.

Analysts project that stablecoins could account for 5–10% of global cross-border transactions by 2030, translating to trillions in annual volume. The Asia-Pacific's leadership in this space is attributed to its regulatory agility, technological innovation, and corporate adoption. With 40% of institutions in the region piloting or planning stablecoin deployments, the market is expected to expand further, particularly in sectors like shipping, steel exports, and e-commerce.

The region's role as a testing ground for digital finance is reshaping global monetary systems. As stablecoins bridge the gap between traditional and digital assets, their adoption in Asia-Pacific signals a broader shift toward decentralized, efficient, and scalable financial infrastructure.