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In today’s newsletter, Prashant Kher of EY-Parthenon on what new survey data shows about where stablecoins are gaining ground, and what will decide which payment rails scale

Then, in “Ask an Expert,” Sam Boboev of Fintech WrapUp on whether euro stablecoins can challenge the dollar’s lead, and who is best placed to win on distribution.

A year ago, the stablecoin debate centered on whether regulatory clarity and a compelling combination of speed, cost and liquidity benefits would drive meaningful adoption. The evidence now points to a market moving decisively from experimentation toward implementation.

EY-Parthenon’s 2026 Blockchain Payments Survey of 521 corporate and financial institution decision-makers found that 18% of corporates have used stablecoins in production, double the share reported in our 2025 survey. Tokenized deposits are close behind, with 15% of corporates reporting adoption.

Financial institutions are also making firm commitments. A total of 69% offer stablecoin services or plan to launch them within two years, up from 30% in 2025. Among banks, 49% already offer or plan to offer tokenized deposits over the same period.

Although blockchain payments have not yet reached mass adoption, the survey findings provide clear evidence that the market is shifting from technology trials to integrating capabilities into existing payment workflows and treasury operations.

Cross-border business payments remain the most common use case. Across stablecoins and tokenized deposits, 50% to 53% of all respondents have used or are exploring each for cross-border supplier payments or cross-border business-to-business (B2B) payment acceptance.

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