The recent passing of the GENIUS Act has accelerated momentum for stablecoins, as they’re quietly moving into the mainstream payments ecosystem.
Banks, merchants, and processors are all suddenly paying attention. Largely because stablecoins promise something practical—faster settlements, cheaper cross-border fees, and fewer middlemen.
While stablecoin adoption and new regulatory guidance likely won’t change how your business operates tomorrow or even this year, it’s important to keep an eye on what’s happening because some of the biggest players in this space are already making moves.
What Are Stablecoins?
Stablecoins are digital tokens tied to stable assets like the US dollar or the Euro.
Unlike cryptocurrencies like Bitcoin or Ethereum, which can have extremely volatile price swings, stablecoins are designed to maintain a steady value (hence the name “stable”).
These are essentially digital versions of cash backed by reserves like US treasury bills that can be moved 24/7 without traditional banking systems.
For businesses, stablecoins are more like a next-generation wire transfer as opposed to an asset or investment. Payments can be settled instantly worldwide, which is why companies are exploring using them for cross-border B2B payments, accounts payables, and vendor payments.
Benefits of Stablecoins
The primary advantages of stablecoins for business use are all tied to savings and speed.
- Lower cross-border transaction fees (without expensive wire fees or FX markups)
- Faster settlement times, often in minutes instead of days
- 24/7 payment availability (even outside traditional banking hours)
- Programmable payments that allow automation of vendor payouts and invoices
Stablecoins as mainstream payments are still in their infancy stages. But issuers are already exploring ways to mirror credit card reward programs to incentivize payers to use coins over traditional cards.
Why the GENIUS Act Matters
The US GENIUS Act was passed by the Senate on June 17, 2025 and officially signed into law on July 18, 2025.
GENIUS is an acronym for Guiding and Establishing National Innovation for US Stablecoins.
This is the first federal law that sets a clear framework for stablecoins. It specifically classifies stablecoins as payment instruments as opposed to securities. This new clarity has given major financial institutions the confidence to proceed with stablecoin-powered solutions.
Key highlights of the GENIUS Act include:
- Reserve Requirements — Every stablecoin must be fully backed by cash or highly liquid assets.
- Monthly Disclosures — Issuers must publicly report all reserves and liquidity.
- Consumer Protections — Including redemption rights and bankruptcy safeguards.
- Oversight — Depending on asset thresholds, all stablecoin issuers will have either a state or federal banking regulator.
In short, the GENIUS Act is allowing businesses to move forward and invest in stablecoin technology with regulatory clarity, and that’s exactly what they’re doing.
How Payment Leaders Are Adapting to Stablecoins
From processors to retail giants, card networks, and even governments, we’re already seeing a ton of activity in stablecoin adoption.
Fiserv is Launching a New FIUSD Stablecoin
Fiserv, one of the biggest names in payment technology, recently announced FIUSD—its own US dollar-backed stablecoin. FIUSD will be rolled into Fiserv’s current product suite at no extra cost for its clients.
Fiserv’s vision for this stablecoin includes:
- Dual balance payment cards (fiat and stablecoin)
- Integration with its Commercial Center and Experience Digital platforms.
- Enhanced fraud settlement controls specifically designed for stablecoin transactions.
It’s expected that this will be fully integrated into Fiserv’s technology by the end of this year.
Amazon and Walmart Consider Issuing Their Own Stablecoins
Retail giants like Amazon and Walmart (among others) are reportedly exploring their own branded stablecoins.
The goal here would be to reduce transaction fees paid to card networks and speed up cross-border supplier payments. This is the reason why merchant trade groups have supported the GENIUS Act, as it could potentially give them leverage over costly processing fees.
Consumer use cases are less clear right now, despite these two names being largely associated with B2C transitions (and C2B payments).
Wyoming is the First State to Issue a Stablecoin
On July 4th, Wyoming became the first state to issue a state-backed stablecoin.
WYST is backed by overcollateralized reserves and costs less than a penny per transaction. It’s designed to enable low-cost settlements worldwide while earning the state interest on reserves.
I expect to see other states follow suit in the near future.
Coinbase and Shopify Support USDC Payment Acceptance for Millions of Businesses Across the Globe
Through a new partnership, Shopify merchants can now accept USDC on Coinbase’s Base network.
Benefits include:
- No foreign transaction fees or currency conversion costs.
- Automatic payments in local currency (or USDC directly to a merchant wallet).
- 1% cash back to US customers paying with USDC.
This rollout is happening automatically for merchants without any extra integrations.
JP Morgan Launched a New JPMD Deposit Token
JP Morgan’s new JPMD deposit token is built on Coinbase’s Layer 2 blockchain.
This takes a slightly different approach, acting as a digital representation of commercial bank deposits. It enables real-time wallet-to-wallet transfers for institutional clients.
The biggest advantage here is that it connects closely to traditional banking systems, which can be attractive for larger B2B settlements.
Visa and Mastercard Are Both Getting Involved
Visa and Mastercard are actively working to connect stablecoins to the world of traditional payments.
Visa is pushing on/off ramps for stablecoin funding and exploring ways to integrate loyalty rewards funded by stablecoin interest revenue.
Mastercard said it plans to treat stablecoins like any other currency on its network. According to Mastercard’s latest presentation on stablecoins and agentic commerce:
- ~90% of stablecoin volume is tied to crypto trading (not general payments).
- Stablecoins will serve specific use cases, like cross-border payments and FX-heavy niches.
- Global adoption will largely depend on UX, infrastructure, compliance, and merchant acceptance.
Ultimately, Mastercard doesn’t quite see stablecoins as a major threat to its model. They don’t think the benefits are enough to drive consumer adoption. But they also aren’t sitting on the sidelines.
PayPal Expands Partnerships With Fiserv and Coinbase
PayPal is leaning heavily into stablecoins, and they already launched its PYUSD token back in 2023.
Most recently, they’ve partnered with Fiserv to support interoperability with FIUSD, targeting cross-border payments and merchant cash flow tools.
They’ve also expanded their partnership with Coinbase, allowing free PYUSD trading and instant 1:1 redemption for US dollars.
Final Thoughts
Stablecoins are no longer a side experiment for crypto enthusiasts. With the passing of the GENIUS Act, they’re officially supporting a regulated infrastructure for global payments.
But for now, card networks and payment processors aren’t being disrupted.
Stablecoins still have quite a bit of progress to make before they make a dent in the payments ecosystem as we know it.
Despite the benefits, there’s nothing drawing consumers to using Stablecoins just yet. The only use case that’s worth keeping an eye on right now is high-volume cross-border B2B payments.
That said, things can change quickly in the payments space, and I’ll be keeping a close eye on this as major stories break in the coming years.