A recent report by Fireblocks reveals that 90% of institutions are either using or plan to use stablecoins, highlighting the growing significance of digital assets in the financial landscape. The survey, conducted among 295 executives from traditional banks, financial institutions, fintech companies, and payment gateways, indicates that almost half of the participants (49%) already use stablecoins for payments. Participants noted that the primary focus for traditional banks regarding stablecoin adoption is on improving cross-border payments. Stablecoins present a solution to inefficiencies found in existing cross-border systems which are often costly and slow. The report highlights that 58% of traditional banks are utilizing stablecoins primarily for this purpose. Benefits identified by institutions include faster settlement times (48% of respondents), greater transparency, and improved liquidity management. As demand for digital financial solutions increases, stablecoins are seen as a means for banks to modernize operations and reclaim market share from fintech competitors.

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