Fireblocks Survey: 90% of Institutions "Take Action" on Stablecoins

Source: Cointelegraph Original text: "Fireblocks Survey: 90% of Institutions 'Take Action' on Stablecoins"

A report from Fireblocks, an enterprise-level digital asset platform, shows that 90% of institutional investors are using or exploring the use of stablecoins in their business.

The report was released on May 15th, surveying 295 executives from traditional banks, financial institutions, fintech companies, and payment gateways. Nearly half of the respondents (49%) indicated that they have already used stablecoins in payments, while 23% are conducting pilot tests, and another 18% are in the planning stage.

Only 10% of institutions in the survey expressed a wait-and-see attitude towards adopting stablecoins.

"The stablecoin competition has become a key issue to avoid being eliminated, due to the accelerating growth of customer demand and the increasingly mature use cases," Fireblocks pointed out in the report.

As traditional cross-border systems are constrained by high costs, delays, and other inefficiencies, stablecoins have emerged as a strategic solution in the business-to-business (B2B) environment of emerging markets.

The report finds that financial institutions, particularly traditional banks, prioritize cross-border payments as the primary use case for stablecoins. Banks leverage stablecoins to gain a competitive edge, reduce transaction friction, and meet customer expectations.

Survey data shows that 58% of traditional banks use stablecoins for cross-border payments, while 28% adopt these assets to receive payments. 12% of banks use stablecoins to optimize liquidity management, and 9% deploy stablecoins in merchant settlement. Another 9% apply them in B2B invoice processing systems.

Fireblocks noted that banks see stablecoins as a "path to modernization." Since these assets are pegged to fiat currencies, they are easier to integrate into existing money management workflows. In addition, stablecoins provide banks with an effective means to regain market share from fintech companies and reduce capital lock-in.

The application scenarios of stablecoins in traditional banks. Source: Fireblocks

The latest survey results reveal that traditional banking institutions adopt stablecoins mainly to restore the scale of cross-border transactions while maintaining existing infrastructure. In contrast, fintech companies and payment service providers increase profit margins and enhance revenue levels through the application of digital assets.

Among the many advantages mentioned by the respondents in the survey, faster transaction settlement speed ranked first, with about 48% of participants agreeing with this.

Other significant advantages include improving transaction transparency, optimizing liquidity management, integrating payment processes, enhancing security guarantees, and reducing transaction costs.

Related news: The stablecoin bill was passed in the Northern Mariana Islands, and the House overturned a previous veto.