Use of digital assets, including stablecoins, have grown steadily for cross-border transactions due to lower costs, less friction and faster settlements, with transaction volume of nearly $28 trillion last year, more than the combined volume of Visa and Mastercard, according to a June 2025 digital payments report from industry consulting firm The Strawhecker Group.
Unlike some other cryptocurrencies, such as bitcoin, stablecoins are typically tied to the value of a fiat currency, like the dollar, to reduce their price volatility.
They’ve evolved from “a niche digital currency” the Strawhecker report said, as “stablecoins power a growing share of global crypto trading, enable low-cost remittances, streamline merchant payouts, support underbanked countries, and offer a way for people in regions with volatile currencies to preserve value in dollars.”
Stablecoins’ acceleration into the mainstream is likely to quicken as U.S. regulators begin implementing the Genius law’s policy framework, counteracting stricter crypto policies during the Biden administration.
For example, PayPal Holdings touted a new “Pay with Crypto” tool on July 28 that allows “instant crypto to stablecoin or fiat conversion” and supports “100+ crypto currencies and wallets,” according to a press release. The company debuted its dollar-denominated stablecoin, PayPal USD, two years ago.
The earliest use cases for stablecoin have been to settle cross-border transactions, facilitate lower-cost remittances and to store value for people in nations afflicted with severe inflation.
But most of these stablecoin transactions occur far from the daily lives of ordinary consumers in America, many of whom are perhaps puzzled about digital currencies. That raises the question: Will stablecoins become a payment choice at local shops and gas stations for millions of smartphone-carrying U.S. consumers?
Payments Dive asked payments and digital asset industry professionals for their thoughts on how, and when, stablecoins might filter down to consumer-level payments.
Comments have been edited for clarity and brevity.
Alexandra ‘Lexy’ Prodromos
Neochordia Consulting
Payments, product and emerging technology consultant
(Former Discover Financial Services innovation and strategic product manager)
