The Future of Stablecoins
Stablecoins and other blockchain-based payments could become a transformative force in global payments and treasury management, particularly for cross-border transactions, liquidity management and real-time settlement. Recent regulatory developments like the GENIUS Act have lent legitimacy to the market by establishing standards for reserves, oversight and issuer requirements, giving businesses and financial institutions greater confidence in exploring adoption.
At the same time, stablecoins remain in the early stages of adoption. At $390 billion — roughly 0.02 percent of global payments volumes, McKinsey reports2 — current real-world payment volumes are still small relative to the total payments market, and significant hurdles remain, including liquidity limitations, integration challenges, accounting uncertainty, counterparty risk and regulatory complexity. Even so, forecasts suggest substantial growth over the next several years, driven by rising institutional participation, improving infrastructure and increasing demand for faster, lower-cost global payments.
2 "Stablecoins in Payments" - February, 18, 2026
Closing Thoughts
As technology advances at a lightning pace, stablecoins may soon become an everyday part of payment and treasury systems. “Within the next one to two years,” Fishman predicts, “treasury teams likely won’t need specialized technical expertise to use these tools. Traditional treasury practitioners will be able to use stablecoin infrastructure through familiar systems.”
Stablecoins can offer quantifiable operational advantages, so they are important to understand and track. But for now, companies and their treasury teams should proceed with caution by watching stablecoins’ evolution rather than rushing into adoption. The best approach is to stay informed, evaluate use cases carefully, and talk to bank partners and select vendors about stablecoins. For businesses of all sizes, decisions about stablecoins should always be business-based — about effectively improving cash management, payments and control — not about deploying “cool” technology.
About the Authors
Anne Battle Schultz Freelance Writer and Editor
Anne Schultz is a freelance writer and editor with over 25 years of experience in banking and financial services. She began her career at payments consultancy GCI Analytics (formerly Global Concepts), a subsidiary of McKinsey & Company. She enjoys writing about a wide variety of topics, such as fintech, management consulting, sustainability, and digitization. She resides in Marietta, Georgia, with her husband and three children.
Tom Hunt, CTP Director, Treasury Services and Payments
Tom Hunt, CTP, is the Director of Treasury Services at the Association for Financial Professionals. Hunt has more than 15 years of direct treasury experience working across different industries, including various roles at Medtronic, Fairview Health Systems and, most recently, at 3M Company. At 3M, he oversaw the global banking strategy, redesigned and implemented a new domestic cash management structure and led acquisition activities for the treasury department. He holds an MBA in finance from the Opus College of Business at the University of St. Thomas in St. Paul, MN.
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