Source: FireblocksTraditional banks prioritize cross-border payments for stablecoin useAs traditional cross-border systems are hampered by higher costs, delays and other inefficiencies, stablecoins have emerged as a strategic solution in emerging markets’ business-to-business (B2B) settings. The report found that financial institutions, particularly traditional banks, cited cross-border payments as their top priority when using stablecoins.
Nearly half of respondents (49%) said they already use stablecoins in payments, while 23% are conducting pilot tests, and another 18% are in the planning phase.’Only 10% of institutions surveyed said they are undecided about stablecoin adoption.“The stablecoin race has become a matter of avoiding obsolescence as customer demand accelerates and use cases mature,” Fireblocks wrote in the report. Current stablecoin adoption among institutional respondents.
Source: FireblocksRelated: Stablecoin bill passes in Northern Marianas as House overrides vetoSpeed is cited as the top benefit for stablecoin useThe survey results showed that banks use stablecoins to regain cross-border volume while maintaining existing infrastructure.
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Author / Journalist: Cointelegraph by Ezra Reguerra
The story "90% of institutions ‘taking action’ on stablecoins: Fireblocks survey" has 399 words across 24 sentences, which will take approximately 2 - 4 minutes for the average person to read.
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