by Coinstrooper Crypto Articles
Quick Take
  • Among those who didn't use stablecoins, 54% expected to adopt them within the next six to 12 months.
  • Regulatory clarity provided by the GENIUS Act was widely viewed as a turning point.
  • The legislation, which was signed into law in July, provided long-awaited rules for U.S.
  • dollar-denominated stablecoins, including reserve requirements and issuer approval processes.

What Happened

Stablecoin adoption is gaining momentum among corporates and financial institutions driven by regulatory clarity and cost-savings in global money transfers, according to a survey by EY-Parthenon.

Regulatory clarity provided by the GENIUS Act was widely viewed as a turning point. The legislation, which was signed into law in July, provided long-awaited rules for U.S. dollar-denominated stablecoins, including reserve requirements and issuer approval processes.

Cost savings are also a key driver for adoption, with 41% of current users reporting at least a 10% reduction in expenses from using stablecoins in international transactions.

Market Context

Executives said in the survey the law reduces uncertainty around liquidity, tax treatment and custodial services.

Why It Matters

Conducted with 350 executives in June after the Senate passed the GENIUS Act, the survey found that 13% of firms already use stablecoins, mainly for cross-border payments. Among those who didn't use stablecoins, 54% expected to adopt them within the next six to 12 months.

Respondents also saw stablecoins as a long-term fixture in global finance. By 2030, they estimate stablecoins could facilitate between 5% and 10% of all cross-border payments, representing $2.1 trillion to $4.2 trillion in value.

Read more: U.S. Stablecoin Battle Could Be Zero-Sum Game: JPMorgan

Details

Still, infrastructure hurdles remain. Only 8% of businesses accepted payments in stablecoins, and many firms planned to lean on banking and fintech partners for integration.