Report: 90% of institutional players use or explore stablecoins in their operations

A report from enterprise-grade digital asset platform Fireblocks shows that 90% of institutional players are using or exploring the use of stablecoins in their operations. The report, released on May 15, surveyed 295 executives from traditional banks, financial institutions, fintech companies, and payment gateways. Nearly half (49%) of respondents said they are already using stablecoins in payments, 23% are conducting pilot tests, and another 18% are in the planning stages.

Only 10% of the institutions surveyed said they have not yet decided whether to adopt stablecoins.

“As customer demand accelerates and use cases mature, the stablecoin race has become a matter of avoiding obsolescence,” Fireblocks wrote.

Current adoption of stablecoins by institutional respondents. Source: Fireblocks

Traditional banks prioritize stablecoins for cross-border payments

As traditional cross-border systems are hampered by higher costs, delays and other inefficiencies, stablecoins have emerged as a strategic solution in emerging market business-to-business (B2B) environments.

The report found that financial institutions, especially traditional banks, ranked cross-border payments as a top priority for using stablecoins. Banks use stablecoins to gain competitive advantage, reduce friction and meet customer expectations.

The report found that 58% of traditional banks use stablecoins for cross-border payments and 28% use stablecoins for collection. 12% of banks use stablecoins to optimize liquidity, and 9% use them for merchant settlements. Another 9% use them for B2B invoices.

Fireblocks said banks see stablecoins as a "path to modernization." The company said that because these assets are pegged to fiat currencies, it is easier to integrate them into existing financial workflows. In addition, stablecoins can provide a lever to help banks regain market share from fintech companies and reduce capital lock-up.

Stablecoin use cases for traditional banks. Source: Fireblock

Transaction speed is considered the biggest advantage of stablecoin use

The survey results show that banks use stablecoins to regain cross-border transaction volume while maintaining existing infrastructure. Fintech companies and payment gateways use digital assets to gain profits and revenue.

Main advantages of stablecoins. Source: Fireblocks

Of the benefits cited by survey respondents, faster settlement was the most prevalent, with 48% of respondents mentioning it.

Other benefits include greater transparency, better liquidity management, integrated payment processes, enhanced security and lower transaction costs.

Ran Goldi, senior vice president of payments and networks at Fireblocks, said stablecoin adoption has moved beyond a simple focus on cost savings and is now seen as a strategic growth driver.

“Our research shows that 90% of companies are moving forward with stablecoin implementation because they see it as a key lever for growth,” Goldi said.

The executive noted that key motivators include expanding into new markets, responding to direct customer needs, and uncovering new revenue opportunities. “Stablecoins have become a driver of business innovation, not just improved efficiency,” he added.