Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Stablecoins Are Growing Faster Than You Think
Stablecoins | March 11, 2025
Stablecoins Are Changing Finance - Growth, Use Cases, and Interest
Stablecoins are having a growing impact on digital finance with transaction volumes increasing by 58% over the past year, processing more than $5.6 trillion in payments, remittances, and decentralized finance use cases. Traditional financial institutions and large fintechs are getting involved like the Bank of America, Standard Chartered, and PayPal either launching or planning their own stablecoins. Layer 2 networks are making stablecoins more efficient too, with 83.5% of Ethereum-based stablecoin transactions now happening on Layer 2 solutions like Arbitrum and Optimism. These networks reduce fees and increase transaction speeds, making stablecoins more practical for everyday spending. Unlike traditional crypto assets, stablecoins are often pegged to assets like the U.S. dollar, gold, or other reserves, making them more stable and practical for everyday transactions.
Types of Stablecoins
Not all stablecoins work the same way. They fall into four major categories each with unique benefits and risks. The market cap data in the examples highlighted below are from Coinmarket Cap at the time of publishing. Stablecoins are live and volume metrics are variable over time.
| Type | How It Works | Examples - Market Cap | Best For |
| Fiat-Backed | Each stablecoin is backed 1:1 by traditional money (USD, EUR) stored in banks. | USDT (Tether) - $143.14B, USDC (USD Coin) - $58.12B, BUSD (Binance USD) - $62.05M | Payments, trading, savings |
| Crypto-Collateralized | Backed by crypto assets like Ethereum and are often over-collateralized for stability. | DAI (MakerDAO) - $5.36B | DeFi, lending, borrowing |
| Algorithmic | Uses smart contracts to control supply and demand, without direct collateral. | FRAX (Frax) - $406.85M | Experimental, high-risk models |
| Commodity-Backed | Pegged to real-world assets like gold or real estate. | PAXG (Paxos Gold) - $619.3M, XAUT (Tether Gold) - $718.01M | Asset protection, inflation hedge |
💡 10 Ways Stablecoins Are Changing Finance (aka Use Cases)
- Cross-Border Payments – Send money internationally instantly with lower fees
- DeFi Lending and Yield Farming – Earn interest, lend, and borrow via staking
- Crypto Trading – Move in and out of volatile cryptocurrencies easily
- Remittances – A cheaper and faster way for workers to send money home
- Gaming and Virtual Goods – Used for in online gaming economies and digital transactions
See: “Crypto’s Back”, Stripe to Support On-Chain USDC Payments
- Wealth Protection – A safe store of value in countries with unstable currencies
- Charitable Donations – Send direct aid without intermediaries or high fees
- Real Estate & Asset Tokenization – Invest in property fractionally
- Supply Chain Payments – Businesses settle international transactions instantly
- Everyday Purchases – More stores are accepting stablecoins as payment
Major Financial Players Are Getting Involved
Big banks and financial companies are moving into the stablecoin space. Below are just some of the more recent announcements:
- BBVA plans to use Visa’s Tokenized Asset Platform (VTAP) to launch its own stablecoin with live pilots in 2025
- Visa is expanding its role by enabling banks to manage fiat-backed tokens and stablecoins through its Visa Tokenized Asset Platform
- JPMorgan Chase and Citigroup are advancing their blockchain capabilities, showing increased interest in stablecoins
- Bank of America is likely to launch a U.S. dollar-backed stablecoin if new laws permit it
- Standard Chartered is working on a Hong Kong dollar-backed stablecoin
- PayPal’s PYUSD stablecoin has over $1 billion in circulation on Solana and Ethereum
- Wyoming’s State Stablecoin is planning to launch by mid-2025
- Cardano’s USDA stablecoin launched in March 2025
Layer 2 Networks are Facilitating Stablecoin Growth
Layer 2 (L2) network blockchain solutions built on top of Layer 1 major blockchains like Ethereum, are making stablecoins more practical for everyday use by helping businesses and individuals move money cheaper and with less friction:
See: Crypto Meets Wall Street as SEC Approves Yield Stablecoin
- Popular L2 networks like Arbitrum, Optimism, and Base are attracting users seeking lower cost transactions
- L2 solutions are enabling faster, cheaper transactions, making stablecoins a great option for micro-payments
- 83.5% of stablecoin transactions on Ethereum for example, now occur on L2 networks, reducing congestion and transaction fees
Outlook
Stablecoins are moving beyond crypto trading and into everyday finance with major financial players and payment giants launching their own stablecoins. Governments are closely watching stablecoin developments. Expect stablecoin regulations to be at the forefront of crypto legislation discussions which will determine how stablecoins can integrate into mainstream finance.
The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with fintech, alternative finance, blockchain, cryptocurrency, crowdfunding and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Oct 5, 2026 Financial technology firms use machine learning to improve how they identify fraud, analyze risk, predict financial trends and verify identities. When researchers must conduct experiments to solve technical problems, detailed records provide evidence of the research process. Effective documentation connects the initial technical problem to the specific tests, results, decisions and resources that the developers used. Define the Technical Objective Project records are effective when they begin with a description of the technical goal. Managers can describe how the system is intended to function, the technical limitations that exist at the start and why current methods do not work. As an example, a firm might try to build a tool that identifies rare transaction sequences while ensuring the system does not increase the number of false alarms. Technical problems that require investigation are a central part of the record. Stating that a firm built an artificial intelligence tool is not enough to show that experimental work happened. Documentation is more precise when it describes difficulties with the structure of a model, training data, the selection of variables, the accuracy of predictions, the ability of the system to handle more data, speed or how the tool works with ...
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