Stablecoins have drawn headlines following President Donald Trump’s signing of the Genius Act last month.
Use of digital assets, including stablecoins, have grown steadily for cross-border transactions due to lower costs, less friction and faster settlements, with transaction volume of nearly $28 trillion last year, more than the combined volume of Visa and Mastercard, according to a June 2025 digital payments report from industry consulting firm The Strawhecker Group.
Unlike some other cryptocurrencies, such as bitcoin, stablecoins are typically tied to the value of a fiat currency, like the dollar, to reduce their price volatility.
They’ve evolved from “a niche digital currency” the Strawhecker report said, as “stablecoins power a growing share of global crypto trading, enable low-cost remittances, streamline merchant payouts, support underbanked countries, and offer a way for people in regions with volatile currencies to preserve value in dollars.”
Stablecoins’ acceleration into the mainstream is likely to quicken as U.S. regulators begin implementing the Genius law’s policy framework, counteracting stricter crypto policies during the Biden administration.