Fireblocks Report: Stablecoins Move from Experiment to Production With Revenue Growth As Top Driver

Stablecoin transactions on Fireblocks reach $40B per quarter, as a survey of 295 C-Suite executives shows the global payments industry shifts toward implementation

NEW YORK, May 15, 2025 /PRNewswire/ -- Fireblocks, an enterprise platform for managing digital asset operations and building innovative businesses on blockchain, today released its annual payments report, State of Stablecoins 2025. Drawing on insights from nearly 300 C-suite leaders across banking, fintech, and crypto-native firms, the report reveals that stablecoins are no longer in pilot mode—they are becoming the financial core of modern payments infrastructure.

90% of respondents, who included senior executives across traditional banks, fintechs, and crypto-native firms, report stablecoin payment programs are live, piloting, or planned, with cross-border B2B flows leading the way. However, the most notable shift is strategic: executives are prioritizing revenue growth, liquidity control, and market expansion over cost savings. Infrastructure readiness, security, and regulatory clarity have become non-negotiables for firms moving from concept to production.

The Fireblocks report pairs market insights with proprietary data from the Fireblocks platform, where stablecoin transactions now account for roughly half of total volume, reaching $40 billion per quarter. Fireblocks currently powers over 300 banks, fintechs, and PSPs across 75 countries.

"Boards at major payments enterprises recognize that adopting stablecoins is a strategic necessity. They look to retain competitiveness against new crypto-savvy entrants and tap into new client bases and markets that are increasingly aligned with digital asset ecosystems," said Vasant Prabhu, former CFO and Vice Chairman of Visa and member of Fireblocks' Advisory Board.

Key Findings from the Report Include:

• Stablecoin adoption is going live: 49% of respondents actively use stablecoins for payments, with another 41% in piloting or planning stages.
  
  
• Revenue and growth top the agenda: The most commonly cited reasons for exploring stablecoins are market expansion (39%), customer demand (37%), and new revenue generation (35%)—all outranking cost savings and regulatory pressure.
  
  
• Cost is no longer the value story: While 32% still cite cost savings, it ranked below benefits like faster settlement (48%) and better liquidity management (34%).
  
  
• Security drives scale: 36% of institutions say stronger security and fraud protection would encourage adoption, and 31% already list enhanced security as a key benefit.
  
  
• Enterprise infrastructure is the new battleground: Firms cite fast, reliable payouts (41%), compliance and transparency (34%), and efficient fiat-to-stablecoin conversion (31%) as top infrastructure requirements.
  
  
• Regulatory clarity is no longer a blocker: Regulatory uncertainty has fallen 60 points since 2023. Today, 86% view upcoming regulations favorably, citing industry standards and international alignment as top catalysts.
  
  
• Regional trends reveal local priorities:
  
  • Latin America leads in live usage for cross-border payments (71%).
  • Asia prioritizes liquidity and B2B scale.
  • North America shows the broadest set of use cases.
  • Europe is security-first, with 42% citing legacy fraud risks.

This institutional shift comes as the global stablecoin market is expected to hit $2 trillion in the next 3 years. In the past 12 months alone, the market cap of stablecoins grew to a record high of $243 billion, with payment players like Visa, Mastercard, and Stripe recently launching stablecoin-powered payment products to meet this demand.

"Stablecoins are reshaping how value moves across borders—offering a faster, more transparent, and accessible foundation for global commerce," said Michael Shaulov, CEO and Co-Founder of Fireblocks. "This report confirms what many in the industry have sensed: the shift from experimentation to real-world execution is underway. Institutions that act now won't just adapt—they'll help shape the infrastructure of a more efficient financial system. The market is demanding enterprise-grade performance that can keep pace with tomorrow's scale, complexity, and regulatory expectations."

To read the full State of Stablecoins 2025 report, visit https://www.fireblocks.com/report/state-of-stablecoin/.

About Fireblocks
Fireblocks is the world's most trusted and proven digital asset infrastructure company, empowering organizations of all sizes to build, run and grow their business on the blockchain. With the industry's most secure, scalable and comprehensive platform, we streamline custody, tokenization, payment, settlement, and trading operations across the largest ecosystem of exchanges, custodians, banks, payment providers and stablecoin issuers in the world. Over 2,000 organizations - including BNY Mellon, Galaxy, and Revolut - trust Fireblocks to secure more than $10 trillion in digital asset transactions across 100+ blockchains and over 300 million wallets. Learn more at fireblocks.com.

SOURCE Fireblocks