Global: US Regulatory Shift Accelerates Stablecoin Adoption in Payments Ecosystem

Stablecoins are rapidly moving into the mainstream of global payments, driven by evolving regulation and increasing demand for faster, more efficient cross-border transactions.

At the Smarter Faster Payments conference hosted by Nacha in San Diego, industry leaders highlighted how recent regulatory developments in the United States—particularly the GENIUS and CLARITY Acts—are reshaping the role of digital assets within the financial system.

According to Keith Vander Leest, US General Manager at BVNK, a key turning point has been the policy shift by regulators such as the Federal Deposit Insurance Corporation, Federal Reserve, and Office of the Comptroller of the Currency. These institutions have eased prior restrictions, enabling banks to custody digital assets, hold stablecoin reserves, and build blockchain-based solutions—unlocking new pathways for institutional participation.

Vander Leest, however, argued that while regulatory clarity is important, it is not the primary driver of adoption. Instead, he pointed to growing demand for better cross-border payment systems.

He noted that stablecoins offer distinct advantages over traditional rails, including instant settlement, 24/7 availability, global reach, transparency through blockchain, and programmability via smart contracts. These features position them as a compelling alternative to domestic-focused systems such as real-time payment networks.

Offering a contrasting view, Alex Treece, CEO of Stablecore, emphasised that regulation has played a decisive role in shaping adoption, particularly among banks. He explained that earlier regulatory uncertainty—exacerbated by events such as the collapse of FTX and the failures of Signature Bank and Silvergate Bank—had effectively sidelined traditional financial institutions.

With regulators now rescinding restrictive policies, banks are re-entering the space, though many are still playing catch-up to fintech and crypto-native firms that gained early traction.

Meanwhile, Barry Goldbrenner of Cross River Bank highlighted that demand for stablecoin-based solutions is emerging across the spectrum—from early-stage startups to large-scale fintech players. He noted that while customer expectations for instant access to funds have evolved, existing wholesale and cross-border systems remain slow and costly.

Goldbrenner suggested that stablecoins are unlikely to replace traditional payment systems such as ACH or wire transfers but will instead complement them by providing an additional, more efficient payment rail—particularly for cross-border use cases.

As regulatory barriers ease and demand for real-time global payments grows, stablecoins are increasingly positioned as a critical layer in the future of financial infrastructure, bridging the gap between traditional banking systems and next-generation digital finance.