What's in Your Bank's Wallet?

Only five months in, 2025 has been the year of stablecoins. A Fireblocks survey of banks conducted in May underscores how quickly the market is moving.

• 90% of respondents are taking action on stablecoins. 49% of them use stablecoin payments already. Only 10% are undecided on adoption.
• 58% of respondents use it primarily for an international money movement.
• 86% report infrastructure readiness with wallets and APIs or partnerships. 75% see clear demand from customers.

Why are so many banks and payment processors aggressively moving to adopt stables?

The answer is the same as every platform shift promises, a greater revenue opportunity. Stablecoins allow international expansion without the hassle and the cost of setting up bank accounts in different geographies.

Lower costs, faster settlement times, and recent government regulation have all catalyzed adoption.

Banks and payment processors can leverage this technology to compete in new markets with a differentiated offering. They are also less expensive because they eliminate middlemen (correspondent banks).

This slice of the population surveyed is likely a bit skewed towards early adopters, but the trend at this point is inexorable. With $250b in stablecoins in circulation, I’m only $50b away from one of my 2025 predictions..

When the late majority adopts, we might see $1t of stablecoins & with it, an entirely new way of banking.