Stablecoins are making significant inroads into the global financial system, according to a new report by BVNK, a London-based stablecoin-focused payments infrastructure provider. The survey, conducted by YouGov among 4,658 respondents across 15 countries, reveals that 39% of crypto users and prospective users receive income in stablecoins, while 27% use them for everyday payments.
Respondents cited lower fees and faster cross-border transfers as the primary drivers for adopting stablecoins. The survey found that stablecoin users globally hold an average of about $200 in their wallets, with holdings in high-income economies averaging around $1,000. Notably, 77% of respondents expressed interest in opening a stablecoin wallet with their primary bank or fintech provider, and 71% were keen on using a linked debit card to spend stablecoins.
Stablecoins in Income and Cross-Border Transfers
For those receiving income in stablecoins, the assets account for about 35% of their annual earnings on average. The survey also highlighted that users who use stablecoins for cross-border transfers report fee savings of about 40% compared to traditional remittance methods. More than half of the crypto holders have made a purchase specifically because a merchant accepted stablecoins, with this figure rising to 60% in emerging markets.
Stablecoin Ownership and Preferences
Stablecoin ownership is higher in middle- and lower-income economies, where 60% of respondents reported holding stablecoins, compared to 45% in high-income economies. Africa recorded the highest ownership rate at 79%, with a significant increase in holdings over the past year. The BVNK spokesperson noted that the study aimed to examine usage patterns among existing and prospective crypto users rather than measure broader population-level adoption.
Respondents tend to hold a range of dollar- and euro-pegged stablecoins, suggesting a preference for diversification across multiple tokens. When asked about their preferred platforms for managing stablecoins, 46% chose exchange platforms, followed by payment apps with crypto features like PayPal or Venmo (40%), and mobile crypto wallet apps (39%). Only 13% preferred hardware wallets.
Integration into Regulated Payroll Systems
The integration of stablecoins into regulated payroll systems is accelerating, driven by the passage of the GENIUS Act in the United States and the implementation of Europe’s Markets in Crypto-Assets Regulation. Global payroll platform Deel announced on Feb. 11 that it will begin offering stablecoin salary payouts through a partnership with MoonPay, starting with workers in the United Kingdom and European Union before expanding to the US.
Under this arrangement, employees can opt to receive part or all of their wages in stablecoins to non-custodial wallets, with MoonPay handling the conversion and on-chain settlement while Deel manages payroll and compliance. Enterprise activity in the sector has also picked up, with Paystand acquiring Bitwage, a platform focused on cross-border stablecoin payouts, to expand digital asset settlement and foreign exchange capabilities.
Market Growth and Future Prospects
Stablecoins, which are typically pegged 1:1 to fiat currencies like the US dollar or euro, offer the price stability necessary for payments, making them a preferred choice over volatile cryptocurrencies. According to DefiLlama, the stablecoin market cap currently stands at $307.8 billion, up from $260.4 billion in July 2023, around the time the US GENIUS Act was signed into law.
As stablecoins continue to gain traction in payroll and everyday transactions, the future looks promising. The combination of regulatory support and technological advancements is likely to drive further adoption, making stablecoins an increasingly integral part of the global financial ecosystem.
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