- Stablecoins processed $33T in 2025, doubling Visa’s volume and pushing institutions to rethink cross-border payments.
- Emerging markets drive adoption as users in Turkey and Nigeria turn to stablecoins for remittances and inflation protection.
- Sonic’s new USSD stablecoin uses U.S. Treasury backing and aims to become a core liquidity layer for its blockchain ecosystem.
Stablecoins now process staggering volumes, forcing global finance to rethink cross-border payments and digital dollars. Ripple executive Reece Merrick highlighted the shift in a detailed thread on X. He argued that institutions now treat stablecoins as critical financial infrastructure.
Merrick wrote, “Stablecoins processed $33 trillion in 2025. That’s 2x Visa’s entire annual volume.” He added, “At Ripple we’ve been building for this moment for years.” He explained that RLUSD targets institutions seeking fast, reliable dollar settlement across borders.
Merrick also described explosive ecosystem growth across global crypto markets. Transaction volume rose 72% year over year during 2025. Active users jumped 146% across 106 countries. Consequently, the sector’s total market capitalization climbed to $320 billion.
Moreover, companies increasingly rely on stablecoins for real business payments. Merrick wrote, “Cross-border B2B payments: up 733%, now $226B of global stablecoin flows.”
Emerging Markets Accelerate Stablecoin Demand
Emerging markets now drive much of the adoption. Turkey leads regional activity as citizens seek protection from currency volatility. Additionally, African remittances accelerate stablecoin usage across the continent. Nigeria alone processes about $59 billion in annual remittance flows. Consequently, many transfers now shift from banks to blockchain settlement.
Meanwhile, the UAE advances institutional adoption through regulated digital currency initiatives. Merrick noted, “The UAE has launched its own dirham-backed stablecoin (DDSC) approved for institutional settlements, targeting a $170B global market.”
Sonic Introduces Treasury-Backed Dollar Token
Developers also expand stablecoin infrastructure across emerging blockchain networks. The Sonic network recently introduced the US Sonic Dollar, known as USSD. The dollar-denominated token relies on Treasury assets managed by BlackRock, Superstate, and WisdomTree.
Moreover, developers designed USSD as Sonic’s core liquidity layer. The system runs on frxUSD infrastructure created by Frax Finance. Users mint the token by depositing supported assets such as USDC or USDT. Smart contracts manage issuance and redemption without fees. Additionally, the network plans direct conversion routes across multiple blockchains.
Policy Fight Slows U.S. Crypto Legislation
However, political battles still shape the stablecoin industry’s future in Washington. Lawmakers continue debating the digital asset market structure bill called the CLARITY Act. Coinbase withdrew support after lawmakers proposed limits on customer reward programs.
Banks strongly oppose those incentives because they fear deposit outflows. Crypto companies argue that banks should compete instead of restricting innovation. President Donald Trump recently blamed banks for delaying the legislation.
The criticism followed a White House meeting with Coinbase CEO Brian Armstrong. Additionally, crypto adviser Patrick Witt questioned banks resisting compromise. Witt warned that blocking the bill could leave stablecoin rewards completely unrestricted.
