From 'Postage' to 'On-chain': Stablecoins are becoming the new infrastructure for global cross-border payments.
Efficiency revolution: Traditional cross-border remittances rely on a complex network of correspondent banks, with fees often reaching 6%-7%, and it takes several days for the funds to arrive. Stablecoins (like USDC, PYUSD, USDPT) achieve 24/7 real-time settlement through blockchain, with rates potentially dropping below 1%.
GENIUS Act positioning: The 'GENIUS Act', signed in July 2025, establishes a federal framework for U.S. stablecoins, confirming the legal status of 'payment stablecoins'. The law mandates a 1:1 reserve (government bonds/cash) and prohibits issuers from paying interest, aiming to position them as pure payment tools rather than securities.
Entry of giants: * Western Union: Has announced a partnership with Anchorage Digital, planning to issue USDPT on the Solana chain in the first half of 2026 and utilizing its global network of 400,000 locations for crypto/f fiat two-way exchanges.
PayPal & Stripe: Have seamlessly integrated stablecoins into their merchant settlement systems through the integration of PYUSD and Bridge, with stablecoin settlement volume expected to account for 15% of their total cross-border volume by 2026.
Market landscape: By 2026, the global share of digital remittances is expected to exceed 60% (approximately $550 billion). Traditional remittance agencies (like MoneyGram) are transforming through partnerships with Stellar and Circle to counter the 'dimensionality reduction' impact of crypto-native platforms like Coinbase and Kraken.
