Barely three months after Washington finally gave stablecoins a proper legal home, digital dollars are finding their way into boardrooms faster than into crypto wallets. Monthly transaction volumes have surged to over $10 billion, up 70% since February, as regulation turned uncertainty into legitimacy.
President Donald Trump’s GENIUS Act, signed in July, did what years of debate could not: grant Washington’s blessing to privately issued, dollar-backed tokens. The new law requires issuers to back stablecoins one-for-one with cash or Treasury bills, a simple rule that has proven catalytic. “The trend inflects right after the Act passed,” notes Andrew Van Aken of Artemis, a blockchain-data firm.
The biggest shift is in who’s using them. Business-to-business transfers now account for nearly two-thirds of stablecoin movement, reaching $6.4 billion a month—a 113% jump since February. Firms are using stablecoins to skip clunky bank rails. Average transfers hover around $250,000, suggesting serious corporate use rather than retail speculation.
Traditional finance, once wary of crypto contagion, is suddenly leaning in. Zelle, the U.S. bank-owned payment giant, plans to integrate stablecoins into its cross-border services, expanding beyond its $1 trillion domestic network. “We’re investing where consumer need and bank capability meet global opportunity,” says Cameron Fowler, head of Early Warning Services, which runs Zelle for institutions including JPMorgan Chase, Bank of America, and Wells Fargo.
With stablecoins’ market capitalization now topping $300 billion, Washington’s belated embrace has flipped the narrative. Once a fringe instrument of crypto traders, they have become the backbone of a new payments infrastructure—regulated, backed, and increasingly indispensable.
