Stablecoin Surge: Cross-Border Volume Hits $4T, EY Survey Reveals

Stablecoin Surge Driving Cross-Border Transactions

A recent EY-Parthenon survey indicates a significant surge in stablecoin adoption among corporations and financial institutions. This increased interest is largely attributed to regulatory clarity and the potential for cost savings in global money transfers.

Key Findings:

• Adoption is on the rise: 13% of firms surveyed currently utilize stablecoins, primarily for cross-border payments.
• Future growth expected: 54% of non-adopting firms anticipate integrating stablecoins within the next 6 to 12 months.
• Regulatory impact: The GENIUS Act, signed into law in July, is seen as a catalyst, providing crucial rules for USD-denominated stablecoins.

Cost Savings and Future Projections

The survey, conducted with 350 executives in June, highlights that 41% of current users report at least a 10% reduction in expenses related to international transactions by using stablecoins.

Looking ahead, respondents predict that stablecoins could facilitate between 5% and 10% of all cross-border payments by 2030, translating to a value of $2.1 trillion to $4.2 trillion.

Challenges Remain

Despite the optimism, infrastructure challenges persist. Only 8% of businesses currently accept payments in stablecoins. Many firms plan to rely on banking and fintech partners for seamless integration.

As businesses navigate the growing stablecoin landscape, robust security measures and smart contract audits are essential. Platforms like Codeum provide services that enhance the safety and reliability of blockchain applications, ensuring secure and efficient stablecoin transactions.