The adoption of Stablecoin is gaining impulse between companies and financial institutions promoted by regulatory clarity and cost savers in global money transfers, according to an Ey-Parthenon survey.
Made with 350 executives in June after the Senate approved the Genius Law, the survey found that 13% of companies already use Stablecoins, mainly for cross -border payments. Among those who did not use Stablecoins, 54% were expected to adopt them within the next six to 12 months.
The regulatory clarity provided by the genius law was widely seen as a turning point. The legislation, which was signed in the law in July, provided so expected rules for the stable called in US dollars, including reserve requirements and the approval processes of the issuer.
Executives said in the survey that the law reduces uncertainty around liquidity, tax treatment and custody services.
Cost savings are also a key driver for adoption, with 41% of current users that report at least a 10% reduction in the expenses of using stablcoins in international transactions.
Respondents also saw Stablecoins as a long -term element in global finances. By 2030, they estimate that Stablecoins could facilitate between 5% and 10% of all cross -border payments, which represents a value of $ 2.1 billion to $ 4.2 billion.
Even so, infrastructure obstacles remain. Only 8% of the companies accepted payments in Stablecoins, and many companies planned to rely on banking partners and Fintech for integration.
Read more: the battle of the United States Stablecoin could be a zero sum game: JPMorgan
