Stablecoins in 2026: the new backbone of global commerce

Mirela Ciobanu, Lead Editor with The Paypers, explores how stablecoins are solving the three biggest pain points in global money movement (and trade): speed, cost, and stability.

During a recent webinar, From Crypto to Checkout: Stablecoins and the future of payments, The Paypers gathered industry leaders to discuss how stablecoins (whether we are referring to digital dollars – USDT, USDC, USDG, or digital pesos, etc.) are revolutionising cross-border commerce, B2B settlements, and everyday transactions. With over USD 4 trillion in stablecoin transaction volume recorded in just the first seven months of 2025, what was once considered a niche cryptocurrency experiment has evolved into a legitimate alternative to traditional payment rails.

The panel, moderated by Massimiliano Silenzi from Cryptorefills, brought together perspectives from across the payment ecosystem: Damon Burk from Nuvei, Eric Barbier from Triple-A.io, Rivai Adidharma from Razer, and Irina Gorbach from Crystal. Their insights reveal a payment revolution that's already well underway, particularly in emerging markets where traditional banking infrastructure falls short.

Why stablecoins are winning where traditional payments fail

The conversation quickly dispelled a common European misconception that stablecoins solve a problem that doesn't exist. As Damon pointed out from his base in Colombia, the real power of stablecoins becomes apparent when you look beyond Europe's well-developed SEPA network to the Global South. In countries like Argentina, where citizens are legally restricted to purchasing only USD 200 USD per month, digital dollars provide a crucial workaround for preserving wealth and conducting international business.

Eric Barbier highlighted three major use cases driving adoption at Triple-A, which serves over 20,000 businesses across 120 countries. First, ecommerce giants like Farfetch and Trip.com are now accepting stablecoins for luxury goods and flight bookings. Second, B2B transactions are increasingly leveraging stablecoins, particularly for Chinese exporters selling to African importers who struggle to source traditional US dollars. Third, the freelancer economy is embracing stablecoin payments, with workers from Argentina to Bangladesh preferring to receive payments in digital dollars rather than volatile local currencies.

Gaming leads the charge in consumer adoption

Rivai from Razer Gold provided fascinating insights into how the gaming industry is pioneering stablecoin adoption. Gamers, being price-sensitive early adopters with existing crypto balances, naturally gravitated toward this payment method. The integration has become so seamless that when Razer Gold experienced issues with a traditional payment channel in Japan, transaction volumes through stablecoins doubled or tripled overnight as gamers switched to the alternative.

The B2B side tells an equally compelling story. Razer Gold's resellers actively pushed for stablecoin acceptance because traditional bank transfers were slow, unpredictable, and expensive for cross-border transactions. The ability to instantly settle deposits and inventory purchases has transformed their business operations, particularly in Latin America where currency controls make traditional banking particularly challenging.

The technology behind the revolution

The technical infrastructure supporting stablecoin payments has matured significantly. Modern blockchains like Solana now offer near-instant settlement, addressing early concerns about transaction speed. Major exchanges like Binance, Crypto.com, and Coinbase have solved the ‘gas fee’ problem by absorbing these costs for users, making the payment experience as smooth as traditional methods.

However, Eric Barbier offered a contrarian view on the much-hyped ‘stablecoin sandwich’ model (converting fiat to stablecoins and back). He argued that for developed market corridors like EUR to USD, this approach might actually be slower and more expensive than traditional methods. The real value emerges when one party naturally holds stablecoins while the other needs fiat, creating a complementary ecosystem rather than forcing unnecessary conversions – thus coining the concept of the ‘stablecoin toast’.

Compliance: the make-or-break factor for scale

Irina from Crystal emphasised that as stablecoin volumes scale, robust compliance becomes critical. The biggest mistake businesses make is treating risk management as something they can add later. With crypto ATMs and OTC desks serving as potential entry and exit points for money laundering, real-time blockchain analytics, and behaviour-based monitoring are essential from day one.

The compliance infrastructure now includes sophisticated tools that can detect structuring, layering, and sanctions exposure in real-time. As Irina noted, ‘You don't slow payments to manage risk; you design risk controls that move at payment speed’. This approach is crucial as businesses must maintain the speed advantage of stablecoins while preventing their platforms from being exploited for illicit activities.

Regulatory clarity accelerates adoption

2025 marked a watershed year for stablecoin regulation. Europe's MiCA framework created a comprehensive market structure, while the US GENIUS Act provided federal clarity for payment stablecoins. These developments signal a shift from stablecoins being merely tolerated to being recognised as legitimate payment infrastructure.

Damon observed that emerging markets in Latin America, Asia, and Africa are now pulling best practices from these frameworks to create their own regulations. Some countries are even exploring local stablecoins pegged to their domestic currencies, giving regulators and central banks confidence in the technology while maintaining monetary sovereignty.

Interestingly, Eric Barbier dismissed the European Central Bank's digital euro project as ‘a joke’, citing restrictions like a EUR 3,000 holding limit and full KYC requirements as fatal flaws. He argued that private stablecoins will continue to dominate because they solve real problems that central bank digital currencies fail to address.

Traditional finance embraces blockchain rails

Perhaps the most significant development of 2025 was the movement of traditional financial institutions onto blockchain rails. The interconnection between JP Morgan and DBS Bank for B2B payments using JP Morgan Coin represents a fundamental shift in how global banks view blockchain technology. As Damon noted, major banks are moving customer B2B payments on-chain because the benefits - faster settlement, enhanced security, and lower costs - are simply too compelling to ignore.

Nuvei's digital assets team is now piloting 24/7/365 settlement with Visa, eliminating weekends and bank holidays from the payment equation. This means funds that traditionally sat idle in float can now be immediately applied to business processes, fundamentally changing cash flow management for global businesses.

Conclusion

The stablecoin revolution is no longer coming – it's here. As traditional financial institutions move their B2B payments onto blockchain rails and major merchants embrace stablecoin payments, the convergence of traditional finance and crypto is accelerating.

The winners in this new landscape will be those who can scale their risk controls as fast as their payment volumes, embrace regulatory clarity while maintaining innovation, and recognise that stablecoins aren't meant to replace every payment method but rather to complement existing systems where they add the most value.

As we move into 2026, expect to see continued growth in B2B settlements, expanded merchant adoption, and increasingly sophisticated compliance frameworks that enable stablecoins to fulfil their promise as the future of cross-border payments.

About Mirela Ciobanu

Mirela Ciobanu is Lead Editor at The Paypers, bridging the knowledge gap between TradFi and DeFi. With a keen eye for industry trends, she is constantly on the lookout for the latest developments in crypto and blockchain. 

Closely in contact with subject matter experts in the digital assets space, Mirela amplifies your voice through compelling interviews, webinars, reports, and articles. She aims to deliver informative and educational insights that help create the Web 3 ecosystem. To share more ideas and get inspired, connect with Mirela on LinkedIn or reach out via email at mirelac@thepaypers.com.