Stablecoins and cross-border flows: the new rails for global commerce

What should merchants ask stablecoin providers? Unlimit CCO Wolf Ruzicka reveals why governance and trust are the first priorities for new global payment rails.

How do stablecoins create real value in trading and cross-border payments?

Stablecoins create real economic value by bypassing parts of slow, multi-layered correspondent systems via a programmable, high-velocity, tokenized settlement layer. They remove the need for multiple intermediaries and pre-funded nostro/vostro accounts, unlocking trapped liquidity and materially reducing cost and settlement time. As value moves wallet-to-wallet on shared ledgers, stablecoins enable near-instant settlement of payments and assets.

AI amplifies this value by automating compliance, routing payments dynamically across stablecoin networks, optimising FX and liquidity positions, and detecting fraud in real time. For example, AI-driven treasury systems can automatically rebalance USDC and EUR-denominated stablecoin holdings across multiple chains based on transaction costs, settlement speed, and liquidity depth, or trigger enhanced sanctions screening before settlement via programmable controls. When integrated into enterprise systems such as SAP, these combined rails can materially accelerate processing while reducing operational overhead. Together, stablecoins and AI can create a scalable foundation for global, intelligent commerce.

What is stopping stablecoins from becoming mainstream in international payments?

Systemic barriers currently prevent stablecoins from achieving mainstream status. The most significant technical hurdle is the ‘last mile’, or the conversion between digital tokens and local fiat currency. These on- and off-ramps are often slow, expensive, and reintroduce the very intermediaries stablecoins are intended to bypass. Liquidity fragmentation across chains and issuers is another constraint. Value is dispersed between multiple stablecoins, blockchains, and custodial environments, limiting netting efficiency and increasing operational complexity. Until interoperability improves, this fragmentation constrains mainstream institutional adoption.

Furthermore, the user experience remains cumbersome, with non-technical users facing barriers related to managing private keys and the fear of permanent loss due to typographical errors. Trust also remains a fragile commodity, as high-profile de-pegging events drive the persistent scrutiny of reserve quality.

What needs to change to move from early adoption to mainstream usage?

The transition to mainstream usage requires a fundamental shift from focusing on the technology of the ‘rail’ to the governance of the ‘asset’. Interoperability is the primary mandate; the industry must adopt global messaging standards, such as ISO 20022, to enable stablecoin transfers to carry the same rich data as traditional SWIFT messages, enabling automated reconciliation.

Regulatory harmonisation is equally important. Fragmented regimes create friction and risk, particularly at scale. In markets like the UK, the work of the Financial Conduct Authority (FCA) and the Bank of England on systemic stablecoins (covering backing, safeguarding, and limits) is a meaningful step toward trust and adoption. Mainstream usage will require the creation of a multi-money environment in which regulated stablecoins, CBDCs, and digital assets can move optimally, with transparent redemption and conversion mechanisms and clear legal claims to underlying reserves within existing payment workflows.

For global merchants exploring stablecoins as a payment option, what are the critical questions they should ask providers?

The priority is governance and trust. Merchants should ask providers about their licensing and supervision, including their regulatory status. It’s important to understand how reserves are managed and audited, what assets back the stablecoin, and whether there is a clear right to redeem at par. In practice, we see a growing need for a provider like Unlimit, which offers technologies that support all currencies, so merchants don’t have to use multiple providers. This not only simplifies their operational costs but also makes using stablecoins more scalable.

For institutions deploying stablecoins in trading or cross-border flows today, what does good implementation look like?

A good stablecoin implementation is defined by operational fit and control. Implementing a faster, more flexible alternative to fiat shouldn’t require wholesale change to systems or a greater risk tolerance.

Successful institutions integrate stablecoins directly into their treasuries, risk, and ERP systems, treating them like any other cash instrument with real-time visibility and automated reconciliation. By connecting blockchain-native settlement with banking-grade governance, such as using MPC-based custody and role-based approvals rather than single-key wallets, implementation guarantees speed without compromising security.

Liquidity management is equally critical. Institutions should define exposure limits by issuer, chain, and counterparty, maintain controlled liquidity buffers, and ensure real-time monitoring of redemption capacity and market depth.

The strongest deployments also start narrow. Specific use cases are identified, solutions are developed, and processes are refined. Once controls, liquidity management, and regulatory reporting are proven in production, integrations can scale dramatically and deliver value widely across business functions.

What trends should payments experts watch in this space in 2026?

Stablecoins are positioned to become a cornerstone of global commerce. The real shift will come from pairing these digital assets with AI, enabling systems to manage liquidity, automate back-office functions, optimise FX routing, and dynamically select the most efficient stablecoin rail for each transaction. For merchants, this translates into reliable access to new markets, faster settlement, and lower operational costs, all while maintaining regulatory transparency. This partnership enables a programmable cash model in which stablecoins move optimally across borders, mirroring traditional currency but with greater speed, visibility, and flexibility.

We are likely to see AI-driven treasury agents autonomously rebalancing stablecoin positions across issuers and chains, executing FX conversions in real time, and generating automated regulatory reporting aligned with jurisdictional requirements. The convergence of stablecoins and AI will drive a new era of agentic commerce, where autonomous systems can execute payments and settlements seamlessly, turning stablecoins into programmable cash that adapts to market conditions.

This editorial is part of the Global Stablecoins Report 2026. Explore how stablecoins are moving from hype to utility for banks, merchants, and fintechs.

About the author

Wolf Ruzicka is Chief Commercial Officer at Unlimit, driving global commercial strategy and growth through AI solutions. With 25+ years of experience, he has built and scaled high-performing businesses, including growing EastBanc Technologies, Solvd, APIphany, and MicroStrategy. An entrepreneur, investor, and author of AI Driven, Wolf has served on multiple boards, advised global enterprises, and mentored extensively within the technology and venture community.

About Unlimit

 

Unlimit is a global fintech ecosystem built to eliminate the financial borders holding businesses back. The company provides the extensive infrastructure needed to scale globally, integrating payment processing, multi-currency accounts, BaaS, and crypto gateways into a single, intelligent platform. By bridging hyper-local expertise with a high-capacity financial network, Unlimit gives companies the agility to expand across regions with total operational confidence and speed.