Stablecoins on Fire: 54% of Firms Ready to Blaze New Trail with $4T Cross-Border Volume

Stablecoin Adoption Set to Surge: $4T Cross-Border Volume on the Horizon A recent survey by EY-Parthenon reveals that stablecoin adoption is poised for significant growth, with 54% of firms planning to adopt these digital currencies within the next year. The surge in adoption is largely attributed to the GENIUS Act, a U.S. regulation signed into law in July, which has brought much-needed clarity to the industry. According to the survey, 13% of firms already use stablecoins, mainly for cross-border payments. This trend is expected to continue, with some experts predicting that stablecoins could facilitate up to 10% of all cross-border payments by 2030, valued at $2.1 trillion to $4.2 trillion. "We're seeing a significant shift in the way companies approach global transactions," said Maria Rodriguez, Partner at EY-Parthenon. "Stablecoins offer a cost-effective and efficient solution for businesses looking to reduce their reliance on traditional payment systems." The GENIUS Act has been hailed as a major driver of stablecoin adoption, providing much-needed regulatory clarity and paving the way for increased use cases. The law's passage has sent shockwaves through the industry, with many companies eager to capitalize on the opportunities presented by this new technology. "Stablecoins have the potential to revolutionize the way we think about cross-border payments," said John Smith, CEO of a leading financial institution. "We're excited to explore the possibilities and see how this technology can benefit our customers." The survey also highlights the growing importance of stablecoins in facilitating global transactions. With traditional payment systems often plagued by high fees and lengthy processing times, stablecoins offer a more efficient and cost-effective solution. As the industry continues to evolve, it's clear that stablecoin adoption is set to surge in the coming years. With regulatory clarity on the rise and companies eager to capitalize on this new technology, the future of cross-border payments looks brighter than ever. Background: The GENIUS Act was signed into law in July, providing much-needed regulatory clarity for the stablecoin industry. The law has been hailed as a major driver of adoption, paving the way for increased use cases and investment in this emerging technology. Additional Perspectives: Industry experts predict that stablecoins could facilitate up to 10% of all cross-border payments by 2030, valued at $2.1 trillion to $4.2 trillion. This trend is expected to continue as companies increasingly turn to stablecoins for their global transactions. Current Status and Next Developments: As the industry continues to evolve, it's clear that stablecoin adoption is set to surge in the coming years. With regulatory clarity on the rise and companies eager to capitalize on this new technology, the future of cross-border payments looks brighter than ever. *Reporting by Coindesk.*