Key Takeaways:
- Ripple says institutions are adopting multi- stablecoin strategies as cross-border settlement demands keep expanding globally.
- Markets using RLUSD, USDC, and USDT show payment infrastructure must support flexible asset choices.
- Regulatory frameworks like MiCA may require institutions to use compliant assets, stablecoins, and fiat together.
Stablecoin Payments Pressure Banks to Adapt Faster
Global payments infrastructure is undergoing a shift as institutions adopt multi- stablecoin strategies across cross-border markets, driven by differing corridor requirements, counterparties, and regulatory conditions. This transition reflects how settlement assets now vary by region, requiring platforms capable of handling multiple stablecoins and fiat simultaneously.
In its April 24 insight, Ripple stated:
“Global stablecoin transaction volume hit $33 trillion in 2025, larger than global credit card volume. The institutions moving most of it aren’t betting on a single asset.”
“They’re operating across RLUSD, USDC, USDT, EURC, and local-currency stablecoins simultaneously, because different corridors, counterparties, and regulatory environments call for different assets,” Ripple detailed, emphasizing that institutions are no longer relying on a single asset, instead using multiple stablecoins across corridors, counterparties, and regulatory environments.
It added that the GENIUS Act, signed in July 2025, accelerated infrastructure timelines, placing early adopters ahead while others face pressure as volumes consolidate and relationships form. Ripple noted that $33 trillion reflects settled activity already flowing through live platforms, highlighting the cost of delayed adoption. It also stated: “This is not a future state, it is how payments are already operating today.”
Multi-Asset Settlement Becomes Key for Enterprises
The insight emphasized that the stablecoin market has already shifted toward a multi-asset structure, with settlement assets varying across regions and counterparties. It explained that platforms limited to a single asset face structural limitations, as enterprise clients increasingly operate with different stablecoin preferences shaped by custody, banking relationships, and regulation. The analysis pointed to regulatory frameworks such as MiCA in Europe, which may require specific compliant assets, reinforcing the need for infrastructure capable of supporting multiple tokens. Ripple described asset-agnostic design as a core requirement, enabling settlement across stablecoins and fiat simultaneously to reflect real-world payment flows across global markets.
AMINA Bank’s Chief Product Officer said: “Our clients need payment infrastructure that can handle both fiat and stablecoin rails simultaneously, but traditional correspondent banking networks weren’t designed to support this.” Ripple highlighted that its payments solution supports multi-asset settlement with integrated custody, liquidity, and conversion, already operating across financial institutions globally. It also detailed RLUSD’s regulatory positioning and adoption across institutions. The company concluded:
“The market has already moved. The institutions that win won’t be the ones that chose the right stablecoin. They’ll be the ones that chose infrastructure already operating at scale across assets, rails, and markets, without needing to rebuild as the ecosystem evolves.”
