GENIUS Act drives stablecoin adoption: $2.1–$4.2T in payments

Greater regulatory clarity and measurable savings are accelerating the adoption of stablecoins among businesses and financial institutions. After the approval of the GENIUS Act – signed in July 2025 – a survey conducted by EY‑Parthenon (EY) indicated a clear shift in cross-border payments and treasury processes. In this context, operational signals are already reflected in the choices of those managing flows and liquidity.

According to data collected by industry analysts and advisory desks involved in pilot projects between 2024 and 2025, the initial corporate deployments have shown settlement times reduced by an average of 60–90% compared to legacy banking corridors and significant improvements in accounting reconciliation. The operators we work with report that defining reserve requirements and custody processes has been the main lever to unlock industrial-scale approaches. 

These findings confirm the recommendations of international bodies on risks and operational requirements Bank for International Settlements – CPMI and in recent analyses on governance and systemic implications Bank for International Settlements – BIS Bulletin.

Data updated as of September 21, 2025.

In 30 seconds: the key numbers

• 13% of companies already use stablecoins, particularly for cross-border payments.
• 54% foresee adoption within 6–12 months.
• 41% of users report a cost reduction of 10% or more.
• Only 8% currently accept payments directly in stablecoin.
• By 2030, it is estimated that the cross-border segment will cover between 5% and 10% of payments, equivalent to a value of $2.1–$4.2 trillion.

What the EY-Parthenon Survey Reveals

The EY-Parthenon survey, conducted following the signing of the GENIUS Act, highlights a growing interest focused on results. Companies are experimenting with the use of stablecoins to reduce costs and operational frictions, particularly concentrating on international payments and the use of USD-denominated stablecoins. In other words, a pragmatism emerges that rewards tangible benefits over isolated tests.

Stablecoin in payments: snapshot 2025
| Indicator | Value |
| ————————————– | ————————————————– |
| Adoption already underway | 13% of companies |
| Adoption plans (6–12 months) | 54% of companies |
| Cost savings | 41% report a reduction of at least 10% |
| Direct acceptance in stablecoin | 8%, currently |
| Estimated cross-border share for 2030 | 5–10% (= $2.1–$4.2 trillion) |

GENIUS Act: what changes for businesses and institutions

The GENIUS Act, which came into effect in July 2025, introduces reserve requirements and approval procedures for issuers of dollar stablecoins. For operators, the new regulatory framework reduces uncertainty on aspects such as liquidity, tax treatment, custody, and interoperability with the traditional banking infrastructure. It should be noted that a more defined framework also facilitates dialogue with counterparties and auditors.

Expected Impact on Adoption

The new regulatory framework is recognized as the main driver of implementation. With clearer rules, treasury, compliance, and IT teams are now able to initiate pilot projects with a more precise risk assessment and greater scalability in the medium term. That said, plans progress gradually, with validation milestones and progressive checks.

Why Companies Are Looking at Stablecoins

The benefits of stablecoins are tangible: the reduction of costs in international transfers is immediate, especially in those corridors where banking channels are expensive and slow. Added to this are greater speed, transparency in transactions, and better accounting reconciliation. In fact, the visibility of operational steps improves throughout the entire payment cycle.

• Savings on cross-border transfers (with a cost reduction of 10% or more for 41% of users).
• Faster settlement, supported by an end-to-end digital trail.
• Less dependence on intermediaries and multilayer fees.

The barriers hindering integration

However, not all aspects are ready. Critical issues persist in the adaptation of management systems and accounting, in the availability of on-chain liquidity across different networks, and in true interoperability between platforms. In this initial phase, many companies plan to rely on banking or fintech partners to facilitate integration. In other words, the ecosystem is growing but with uneven maturity.

Where Work is Still Needed

• Accounting and reporting: need to harmonize balance sheet rules and multi-network reconciliation.
• Custody and segregation of digital assets.
• Issues of tax and cross-jurisdiction compliance.
• Technological choices: definition of networks, standards, corporate wallets, and KYC/AML systems.

Scenario 2030: what is the value of the cross-border segment

According to estimates by EY-Parthenon, by 2030 it is expected that between 5% and 10% of cross-border payments could be processed via stablecoins, with a value ranging between $2.1 and $4.2 trillion. The breadth of this estimate is due to uncertainty regarding the scalability of networks, integration with current payment rails, and the harmonization of international regulations. Nevertheless, the adoption trajectory appears constructive.

Practical Example: The Case of a Mid-Cap Exporter

Let’s consider a company with $10 million annually in cross-border payments: if the adoption of stablecoins allows for a 10% reduction in costs, the company could generate an annual saving of approximately $1 million. This advantage increases in contexts where traditional fees are particularly high or when settlement times cause higher financial costs. In this scenario, cash flow forecasting also benefits from more certain timing.

What to Watch in the Coming Months

• Pilots between banks, fintech, and corporates on invoicing and treasury processes.
• Implementation of cross-chain interoperability standards and development of tokenized bank cash.
• Further clarifications regarding VAT, taxes, and accounting criteria.
• Evolution of fees compared to traditional payment networks.