Crypto
3 minutes
Stablecoins explained: what US business owners need to know
Move money across borders faster, cut conversion costs and settle payments in minutes – all with a dollar stable digital currency backed by regulated frameworks.
Ahmed Zifzaf
Head of Crypto Partnerships
Ahmed Zifzaf leads crypto partnerships at Worldpay, now Global Payments, spanning stablecoin settlement, programmable treasury and on-chain payment infrastructure. He previously advised Fortune 500 firms at McKinsey and holds an MBA from Stanford GSB.
Key points
- Total stablecoin circulation reached $316.2 billion in April 2026, and 88% of North American financial firms view recent U.S. regulation as a green light for adoption rather than a barrier (Fireblocks, 2025).
- The GENIUS Act, signed in 2025, established the first federal regulatory framework for stablecoin payments in the U.S. – defining who can issue stablecoins, reserve requirements and permitted payment use cases.
- Worldpay supports stablecoin settlement in USDC and USDG – both regulated, fully reserved digital dollar currencies – and can help businesses assess whether stablecoin payments fit their cross-border operations.
If you pay overseas suppliers or collect revenue from international customers, you've absorbed the cost: wire fees, two-to-five-day settlement windows, currency conversion charges stacked on top of each other. Stablecoins are a payments option designed to cut through that. Here's what the technology does, what changed legally in 2025 and whether it's worth your attention.
What are stablecoins, and how do they work?
A stablecoin combines the value stability of a fiat currency with the speed and reach of blockchain technology. When you send a stablecoin payment, it settles directly on a blockchain network – often in minutes – without passing through correspondent banks or local clearing infrastructure.
The most widely used stablecoins are dollar-backed: USDC (issued by Circle), USDT (issued by Tether) and USDG (issued by Paxos as part of the Global Dollar Network). Each maintains a 1:1 peg with the dollar and is backed by reserves.
It's worth understanding what stablecoins are not. They're not the same as Bitcoin or other volatile crypto assets – the whole point is that the value stays fixed. They're also different from central bank digital currencies (CBDCs), which are issued by governments, and from deposit tokens, which are digital representations of money held in a commercial bank account.
$316.2b |
|---|
Total stablecoin circulation across all known protocols, April 2026 (BCW Research/Worldpay report) |
Why are businesses using them?
For businesses that move money across borders, stablecoins can address three friction points in traditional payment infrastructure.
Speed. Because stablecoins don't rely on correspondent banks, they aren't dependent on local clearing infrastructure. International wire transfers that take two to five business days through traditional banking can settle in minutes. For businesses paying overseas suppliers or disbursing funds to international contractors, that difference is practical, not theoretical.
Stability. Businesses operating in markets with volatile local currencies can retain revenue in a dollar-pegged stablecoin rather than converting immediately. This can reduce exposure to currency swings between the time a transaction completes and funds are accessed.
Lower conversion costs. Cross-border payments typically involve multiple currency conversions, each with its own fees. Stablecoins let you move value across borders in a single dollar-denominated asset, reducing the layering of conversion costs and wire fees.
A practical example: A multinational business could use stablecoins to consolidate regional revenues into a central treasury account faster and at lower cost than routing each market's funds through local banking rails separately.
What changed in the US – and why it matters
For years, the absence of clear federal rules was the biggest obstacle to institutional stablecoin adoption. That changed in 2025.
The GENIUS Act established the first federal regulatory framework specifically for stablecoin payments. It defines who can issue a stablecoin, what reserve standards issuers must meet and how stablecoins can be used in payment contexts. U.S. regulators are now writing the operational rules that will put the GENIUS Act into practice.
The effect is already visible in business confidence. In a Fireblocks survey, 88% of North American financial firms said they see new stablecoin regulation as a green light rather than a barrier (Fireblocks, State of Stablecoins: 2025).
One open question: The CLARITY Act, which would address the broader classification of digital assets and how they're regulated, is still in congressional debate. The regulatory picture for stablecoins specifically is clearer than it was; the wider crypto regulatory landscape is still developing.
What are the risks to know about?
Stablecoins offer genuine benefits for some business use cases – but they also carry risks that any business owner should weigh before adopting them.
Depeg risk. The primary financial risk is the possibility that a stablecoin drops below its pegged value – typically caused by a sudden drop in demand or poor collateralization. Well-backed stablecoins like USDC and USDG maintain 1:1 reserves and are subject to regulatory oversight, which reduces this risk considerably. Smaller or less regulated stablecoins carry higher exposure.
Compliance obligations. The pseudonymous nature of public blockchains creates considerations around anti-money laundering (AML) and counter-financing of terrorism (CFT) compliance. Working with a regulated payment provider helps navigate these requirements.
Not all stablecoins are equal. Issuer quality, reserve backing and regulatory standing vary. Sticking to well-established, regulated stablecoins – and working through a payment processor with stablecoin expertise – limits exposure to the tail risks of the broader market.
Competition from alternatives. Citi's "Stablecoins 2030" report projects base-case stablecoin issuance of $1.9 trillion by 2030. But it also notes that bank token transaction volumes (including tokenized deposits and deposit tokens) could reach $4 trillion in that period, with bank tokens preferred by many corporates. Stablecoins are one option in an evolving toolkit – not the only one.
Is this the right move for my business?
Stablecoins are most valuable for businesses with cross-border payment needs: paying international suppliers, receiving funds from overseas customers or operating in markets where local banking infrastructure is slow or fragmented.
If all your transactions are domestic U.S. dollar payments through existing rails, the practical benefit is more limited. The infrastructure already works reasonably well for that use case.
"Stablecoins are most valuable for businesses with cross-border payment needs."
For businesses that do operate internationally, the question is less whether stablecoins will become a standard part of the payments toolkit and more when and how to integrate them. The regulatory framework is in place. The technology is proven. And the major stablecoin networks are processing transactions at scale.
Worldpay supports stablecoin settlement in USDC and USDG – regulated, fully reserved digital dollar currencies. We can help you understand whether stablecoin payments fit your business and what integration looks like in practice.
Stablecoin FAQ
What is a stablecoin in simple terms?
Are stablecoins legal in the U.S.?
Can a small business accept stablecoin payments?
What's the difference between a stablecoin and cryptocurrency?
What is the GENIUS Act and how does it affect stablecoin payments?
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