Stablecoins Reshape Global Payments With $15.6 Trillion On-Chain Volume in 2024

HTX Research has published a new report titled “Stablecoin Research Report: Exploring the Far-reaching Impact of Stablecoins on the Global Payment System,” analyzing how stablecoins are transforming the global financial infrastructure. According to the report, stablecoins have moved beyond being simple on-chain transaction tools and are now reshaping cross-border payments, trade settlement, and capital flows. By 2024, the total on-chain stablecoin transaction volume reached $15.6 trillion, indicating a shift away from high-cost systems like SWIFT [1].

The report outlines a two-stage development path for stablecoins. The first stage involves collaboration with traditional financial institutions like Visa and PayPal, which are integrating stablecoins into global payment systems for use cases such as cross-border settlements, trade payments, and commodity trading. The second stage hinges on regulatory developments, particularly the potential easing of U.S. SEC rules for security token offerings (STOs), which could enable traditional financial assets like bonds and stocks to be tokenized on-chain [1].

HTX Research emphasizes that the next phase of stablecoin growth will not be confined to the cryptocurrency ecosystem but will stem from broader adoption across industries and regions. Stablecoins are positioned to serve as liquidity anchors and clearing hubs in the on-chain financial system, with the potential to form the core of a global “digital dollar operating system” [1].

The report also highlights the role of regulatory clarity in shaping stablecoin adoption. As frameworks like the U.S. GENIUS Act, EU MiCA regulation, and the Hong Kong licensing system become more defined, stablecoins are entering a key phase of institutionalized development. These evolving standards could determine how stablecoins are integrated into mainstream finance and whether they can sustain long-term growth [1].

Unlike traditional fiat currencies, stablecoins offer a digital alternative that maintains price stability while enabling seamless digital transfers. The research emphasizes that stablecoins are particularly impactful in global payment systems, where they can bypass intermediaries, reduce settlement times, and lower transaction fees. These advantages position stablecoins as key enablers of a more decentralized and accessible financial ecosystem [1].

The report also touches on regulatory uncertainties, particularly concerning stablecoin environmental impact and compliance with evolving financial regulations. It underscores the importance of a balanced approach that encourages innovation while ensuring consumer protection and system stability [2].

HTX Research’s analysis is grounded in real-world observations and expert insights, making it a valuable resource for policymakers, financial institutions, and investors seeking to understand the trajectory of stablecoins in the global financial landscape [1].

Source: [1] Stablecoin Research Report: Exploring the Far-reaching Impact of Stablecoins on the Global Payment System (https://www.htx.com/research/stablecoin-report)

[2] Crypto Ahmet's Profile | Binance Square (https://www.binance.com/tr/square/profile/crypto_ahmet)