Stablecoins Set to Outpace Credit Cards in Global Payments by 2028
- BitPay expands stablecoin payments to include Solana-based options, enhancing global transaction speed and cost-efficiency. - Stablecoin transaction volumes hit $27.6 trillion in 2024, surpassing major credit card networks, with $227B market cap as of early 2025. - B2B stablecoin use surged 30-fold to £3B/month by 2025, driven by real-time, low-risk settlement preferences in cross-border commerce. - Latin America leads adoption (71% cross-border use), while Asia focuses on market expansion, supported by
BitPay, a leading provider of blockchain payment solutions, has announced the expansion of its stablecoin payment options to include Solana-based stablecoins, enhancing global access to faster and more cost-effective digital transactions. The move aligns with the growing adoption of stablecoins as a mainstream financial tool, particularly in cross-border commerce, as outlined in BitPay’s 2025 State of Stablecoins report [1].
The report highlights that stablecoins, which are pegged to traditional fiat currencies such as the U.S. dollar or euro, have seen explosive growth in transaction volume and market capitalization. In 2024 alone, stablecoin transaction volumes reached $27.6 trillion, surpassing the combined transaction volumes of major credit card networks like Visa and Mastercard [1]. As of early 2025, the stablecoin market capitalization stood at $227 billion, with USDT and USDC accounting for the bulk of liquidity, at $143 billion and $58 billion respectively [1].
BitPay’s expansion into Solana-based stablecoins is a strategic move to leverage the network’s high-speed and low-cost transaction capabilities, which are particularly attractive for international businesses. The report notes that stablecoins are being increasingly used in business-to-business (B2B) transactions, with monthly B2B stablecoin transactions increasing from under £100 million in early 2023 to over £3 billion by the end of 2025—a 30-fold rise [1]. This trend reflects the growing preference among firms for real-time, low-cost, and low-risk settlement methods that reduce reliance on traditional banking infrastructure.
Regional adoption patterns reveal diverse drivers of stablecoin use. Latin America remains the most active region, with 71% of companies using stablecoins for cross-border payments, driven by high inflation and a digitally savvy population. In Asia, 49% of firms use stablecoins primarily for market expansion, particularly in trade-heavy sectors [1]. North America and Europe are also catching up, with regulatory clarity—such as the EU’s Markets in Crypto-Assets (MiCA) framework—facilitating broader adoption [1].
Infrastructure development has also played a key role in scaling stablecoin usage. According to the report, 86% of financial institutions now have the necessary tools, including wallets, APIs, and compliance systems, to manage stablecoin transactions. Platforms like Fireblocks, which process 15% of global stablecoin volume, highlight the importance of robust infrastructure in supporting secure and scalable digital payment systems [1].
Looking ahead, the report forecasts that stablecoins will handle $1 trillion in global payment volume by 2028 and capture 12% of international payments by 2030. These projections are based on continued regulatory clarity, infrastructure advancements, and the inherent advantages of stablecoins in remittances, corporate treasury management, and gig economy payments [1].
BitPay’s Chief Marketing Officer, Bill Zielke, emphasized the importance of stablecoins in redefining the global financial system. “Stablecoins are becoming the backbone of modern payment rails, offering unparalleled speed and cost-efficiency,” he stated [1].
Source:
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Cobie: Long-term trading
Crypto Twitter doesn't want to hear "get rich in ten years" stories. But that might actually be the only truly viable way.

The central bank sets a major tone on stablecoins for the first time—where will the market go from here?
This statement will not directly affect the Hong Kong stablecoin market, but it will have an indirect impact, as mainland institutions will enter the Hong Kong stablecoin market more cautiously and low-key.

Charlie Munger's Final Years: Bold Investments at 99, Supporting Young Neighbors to Build a Real Estate Empire
A few days before his death, Munger asked his family to leave the hospital room so he could make one last call to Buffett. The two legendary partners then bid their final farewell.

Stacks Nakamoto Upgrade
STX has never missed out on market speculation surrounding the BTC ecosystem, but previous hype was more like "castles in the air" without a solid foundation. After the Nakamoto upgrade, Stacks will provide the market with higher expectations through improved performance and sBTC.
