Report: Over 90% of Financial Institutions Deploy Stablecoins, Banks Focus on Accelerating Cross-Border Payments and Settlements

According to a report by Cointelegraph, a survey released by the digital asset platform Fireblocks on May 15 shows that out of 295 traditional banks, financial institutions, and payment gateways, 90% have either implemented or plan to deploy stablecoins, with only 10% remaining cautious. Among the respondents, 49% have already used them in payment scenarios, 23% are in the pilot stage, and 18% are in the planning phase.

Traditional banks are using stablecoins as a strategic tool for cross-border payments, with 58% of banks using them for cross-border remittances and 28% for collections. Additionally, 12% of banks use them for liquidity management, and 9% for merchant settlements and B2B invoice processing. The report points out that stablecoins, with their characteristic of being pegged to fiat currency, can be seamlessly integrated into existing cash management systems, helping banks reduce capital lock-in risks and withstand market competition from fintech companies.

In terms of application advantages, 48% of institutions cite "improved settlement speed" as the primary benefit, followed by enhanced transparency (37%), optimized liquidity management (29%), payment process integration (25%), and increased security (18%). Only 12% of institutions consider "reduced transaction costs" as the main driving force.

Fireblocks emphasizes that stablecoins are becoming a key path for the modernization and transformation of traditional financial systems. As customer demand grows and use cases mature, institutions need to accelerate their deployment to avoid technological obsolescence, especially in the cross-border payment sector, by rebuilding efficiency barriers through stablecoins.