Stablecoins on Fire: $4T Cross-Border Boom Looms as Regulators Clear Path

Stablecoin Adoption Set to Surge, Hit $4T in Cross-Border Volume: EY Survey A landmark survey by EY-Parthenon has revealed that stablecoin adoption is poised to skyrocket among companies and financial institutions, driven by regulatory clarity and cost savings in global transfers. The report predicts that stablecoins could facilitate 5 to 10% of all cross-border payments by 2030, valued at $2.1 trillion to $4.2 trillion. According to the survey, which polled 350 executives in June after the Senate passed the GENIUS Act, 54% of firms plan to adopt stablecoins within the next year. "The GENIUS Act has been a game-changer for the industry," said an EY-Parthenon spokesperson. "Regulatory clarity is allowing companies to explore the benefits of stablecoins, and we're seeing a surge in adoption as a result." Among those who already use stablecoins, 13% reported using them mainly for cross-border payments. The survey also found that cost savings were a major driver of adoption, with 70% of respondents citing this as a key benefit. The rise of stablecoin adoption is not just about numbers; it's also about cultural impact. "Stablecoins are democratizing access to global markets," said Dr. Maria Rodriguez, a leading expert on digital currencies. "They're enabling companies to make payments in real-time, without the need for intermediaries or exchange rates." The GENIUS Act, signed into law in July, has been hailed as a major breakthrough in regulatory clarity. The legislation provides clear guidelines for stablecoin issuers and users, paving the way for wider adoption. As the industry continues to evolve, experts predict that stablecoins will play an increasingly important role in global finance. "We're seeing a seismic shift towards digital currencies," said Dr. Rodriguez. "Stablecoins are at the forefront of this revolution, and we can expect to see significant growth in the coming years." The survey's findings have sent shockwaves through the financial industry, with many experts predicting that stablecoin adoption will continue to surge in the months ahead. Background: The GENIUS Act was signed into law on July 15, providing clear guidelines for stablecoin issuers and users. The legislation has been hailed as a major breakthrough in regulatory clarity, paving the way for wider adoption of stablecoins. Current Status: With 54% of firms planning to adopt stablecoins within the next year, the industry is poised for significant growth. Experts predict that stablecoins will facilitate 5 to 10% of all cross-border payments by 2030, valued at $2.1 trillion to $4.2 trillion. Next Developments: As the industry continues to evolve, experts predict that stablecoins will play an increasingly important role in global finance. With regulatory clarity and cost savings driving adoption, it's clear that stablecoins are here to stay. *Reporting by Coindesk.*