Stablecoins are entering mainstream finance, offering the potential to make the existing retail commerce payments ecosystem faster, better, and cheaper. Here we explain why stablecoin acceptance is an infrastructure shift, not a hype cycle, and highlight four key considerations to help merchants position themselves to take advantage of this silent revolution.
Stablecoins go mainstream — from crypto niche to financial powerhouse
Stablecoins — a cryptocurrency pegged to a reference value, mostly fiat currencies — are no longer on the fringes in crypto. They’ve become its most visible and practical application.
As of May 2025, the stablecoin market is worth close to $250 billion. This growth has a strong tailwind for several reasons. These include more global regulatory clarity in the United States, United Kingdom, European Union, and many other jurisdictions; the strong business model for stablecoin issuers (especially in the US); and the role USD stablecoins play in government finance. Stablecoin issuer Tether is now the seventh-largest buyer of US Treasury bonds, but it is still the odd one out in a list of sovereign buyers.
While the bulk of stablecoin volume still flows through crypto trading, serving as the instant “cash leg,” we’re now witnessing a shift. Stablecoins are entering mainstream finance, both in wholesale — such as for settlement of tokenized financial instruments like bonds — and in retail commerce. On the retail side, namely stablecoin merchant acceptance, they offer real benefits (faster, better, cheaper) to the existing payments ecosystem.
How Visa and Mastercard lead the stablecoin payments revolution
Reach for retail payments is still relatively low. Yet we are on the brink of accelerating reach, with big payment networks embracing stablecoins.
Visa has used stablecoins for 24/7 merchant payouts since late 2023, bypassing the limitations of traditional banking hours. Recently, Visa partnered with stablecoin orchestration platform Bridge to make stablecoins accessible for everyday purchases. Fintech developers can now offer stablecoin-linked Visa cards to their end customers in various countries through API integration.
Mastercard recently announced a comprehensive suite of stablecoin services. This end-to-end proposition includes wallet enablement, card issuing, and merchant acceptance — potentially billions of terminals worldwide. This creates a closed-loop system of regulated stablecoin flows, linking vetted card-issuing crypto platforms (such as OKX, Kraken, and Gemini) to acquirers and merchants. Payouts in stablecoins are optional but increasingly attractive. Global remittances are also supported, as well as some more institutional use cases.
Why merchants should embrace stablecoin payments now
Here are four key considerations for merchants thinking about accepting stablecoins:
1. Know your stablecoin users to boost payment conversion. Stablecoin holders represent a distinct and growing demographic. They include gig workers paid in crypto (93% of global freelancers want to receive part of their income in crypto or stablecoins); individuals in inflation-prone economies (stablecoins make up 43% of transaction volume in sub-Saharan Africa); and affluent, young, digital-native consumers (over half of Generation Z owns crypto).
2. Tap global markets using stablecoin for cross-border payments. Stablecoins enable cross-border payments in places where card infrastructure is weak or bank coverage is low. This offers financial inclusion to 27% of unbanked adults worldwide — accessible to anyone with a smartphone.
3. Optimize payment costs, but balance fees and integration. Using networks like Mastercard or Visa for stablecoin payments is simple, but fees may remain close to traditional levels. Lower fees are possible when merchants accept stablecoins directly to a crypto wallet, though this requires technical integration and managing fiat conversion. Hybrid solutions like Flexa, Coinbase Commerce, and Request Finance offer the best of both worlds — low-cost, fast, and irreversible payments, often with optional fiat settlement.
4. Ensure compliance and trust with secure stablecoin payments. AML and KYC compliance is essential. Working with specialized crypto payment providers ensures that merchants stay on the right side of regulations, minimizing their risks.
How stablecoins are powering the future of digital payments
Stablecoin acceptance is not a hype cycle; it’s an infrastructure shift in progress. Much like how voice-over-IP (VoIP) transformed the telecom industry, this change in the payments sector will be gradual but irreversible.
We believe digital public infrastructure will begin to complement — and eventually integrate with — legacy financial systems in the coming years. End users might not notice dramatic changes right away, but payments will become faster, cheaper, and available 24/7 to anyone across the globe over time. This shift will be largely invisible, a silent revolution, but merchants that start experimenting today will be better positioned for tomorrow.