Understanding how stablecoins are transforming cross-border payments, B2B settlements, and global commerce.
Stablecoins were initially created as digital dollars by centralized crypto exchanges to work around the lack of access to regulated bank accounts. Tether (USDT), launched in 2014, acted as the first digital dollar, providing a stable unit of account and unlocking inter-exchange liquidity for cryptocurrency trading.
Today, stablecoins have evolved from a niche crypto trading tool into infrastructure for 24x7 liquidity and real-time money movement. They're being adopted by digitally native companies, e-commerce platforms, and financial institutions for B2B payments, cross-border settlements, supply chain finance, and global payroll. The market has grown from approximately $200 billion at the start of 2025 to about $300 billion today, with institutional adoption accelerating rapidly.
"Stablecoins are a catalyst for blockchain's ChatGPT moment in institutional adoption. We update our stablecoin forecasts to issuance volumes of $1.9 trillion in our base case and $4.0 trillion in our bull case, revised upwards from our April 2025 estimate of $1.6 and $3.7 trillion respectively."
BBVA joined the Qivalis consortium, a group of 12 major European banks (including BNP Paribas, ING, and UniCredit) developing a MiCAR-compliant euro stablecoin. This is a significant B2B move aimed at creating a regulated alternative to traditional correspondent banking for high-speed, on-chain corporate payments and treasury operations.
Key Impact: Positions European banks to compete directly with private stablecoin issuers by offering "institutional-grade" settlement rails.
Compliance platform Sumsub integrated its "Travel Rule" solution natively into Fireblocks, a leading enterprise blockchain infrastructure provider. This partnership allows over 1,800 financial institutions and virtual asset service providers (VASPs) to automate the real-time exchange of transaction data required by global anti-money laundering (AML) regulations.
Key Impact: Removes a major friction point for B2B digital asset transfers by embedding regulatory compliance directly into the transaction workflow.
The UK government enacted the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026. Notably, the rules provide a "carve-out" for overseas firms dealing specifically with UK institutional customers, allowing them to operate without full local authorization if they don't serve retail consumers.
Key Impact: Provides the "green light" for global B2B blockchain firms to scale their services in the London financial market with clear legal boundaries.