Interest in using stablecoins has tripled year-over-year from 2024 among company executives at Fortune 500 companies, according to a report by crypto exchange Coinbase.
Nearly 29% of 100 executives surveyed from the largest 500 US companies by revenue said their company has plans for, or is interested in stablecoins, compared to just 8% who said the same in 2024, representing a more than threefold increase year on year, Coinbase said in its State of Crypto report released Tuesday.
Key reasons for the interest in stablecoins were slow transaction speed and high transaction fees associated with the current payment methods. At the same time, 7% of respondents said their company currently uses or holds stablecoins.
Smaller businesses interested in stablecoins
Businesses with fewer than 500 employees have also shown a rising interest in stablecoins compared to last year.
Of the 251 surveyed financial decision-makers at small and medium businesses, 81% said they were interested in using stablecoins compared to 61% a year ago. Meanwhile, 46% said they will likely use crypto in the next three years.
“This growth is driven by the belief among consumers and both the F500 and SMBs that stablecoins can help address some of their biggest financial pain points,” Coinbase said.
More than 82% of SMBs also said they think crypto can help address at least one financial issue with their business, such as transaction fees and cross-border payments.
“Use cases include remittances with near-instant and low-cost cross-border transactions, lower payment processing fees, increased payroll efficiencies, inflation protection, and bridging payments gaps for the under and unbanked,” Coinbase said.
Stablecoin adoption and volumes rise
Organic stablecoin transfer monthly volumes have also seen a significant uptick, with December 2024 seeing highs of $719 billion, followed by April 2025’s $717 billion as the two highest months so far, according to Coinbase.
Total stablecoin volumes also hit $27.6 trillion in 2024, surpassing the combined volumes of Visa and Mastercard by 7.7%.
Over the same period, stablecoin ownership grew with over 161 million holders clocked in May.
“That is more than the population of the 10 largest cities in the world combined and more than the 142 million combined users of the US ‘Big Four’ mobile bank apps, JPMorgan, Bank of America, Wells Fargo and Citibank,” Coinbase said.
Stablecoins see growing interest for businesses
Other large companies and even countries have been showing an increasing interest in using stablecoins in some form as well.
Related: ‘Dark stablecoins’ could emerge as regulations tighten
Ridesharing giant Uber is in the “study phase” of using stablecoins to help reduce the costs of moving money around the world, its CEO Dara Khosrowshahi told a June 5 Bloomberg Tech Summit in San Francisco.
A May 14 report from enterprise-grade digital assets platform Fireblocks found that 90% of institutional players surveyed are exploring the use of stablecoins in their operations.
A Russian finance ministry official floated a plan for the government to develop its own stablecoin in April, while a trio of major Abu Dhabi institutions teamed up to create a new dirham-pegged stablecoin in the same month.
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