WTO Says Stablecoins Make Up Only 3% of International Payments as Fragmented Rules Hinder Adoption

Stablecoins have the potential to improve the efficiency of international trade payments, but fragmented national regulatory regimes are preventing broader adoption, according to the World Trade Organization.

Cointelegraph reported on September 14 that Juan Marchetti, the WTO's director of trade in services and investment, made the remarks at a Geneva event marking the release of the research report, "Stablecoins in International Trade."

"The constraint is not technology, but regulation and gaps in regulatory frameworks," Marchetti said.

Citing an October 2025 report by the Financial Stability Board, Marchetti said only 11 of the 28 jurisdictions surveyed, or 39%, had completed stablecoin regulatory frameworks.

Regulatory uncertainty has also kept stablecoins' share of international payments at about 3%, the report found. Even so, stablecoin use in cross-border payments grew about 35-fold from 2020 to mid-2024.

The WTO said stablecoins could help address five major problems in trade finance: high costs, slow processing, limited access, weak transparency and foreign-exchange constraints.

The potential gains are especially large for developing countries. Stablecoins can reduce remittance costs, but weaker regulatory frameworks in those markets are limiting adoption.

How much stablecoins contribute to trade will depend far more on regulatory convergence, interoperability and surrounding financial infrastructure than on the technology itself. That matters especially in developing countries, which stand to benefit the most.

Global payments companies are also expanding their use of stablecoins. Mastercard began working last month with stablecoin infrastructure firm Borderless to test a cross-border stablecoin remittance business. Western Union also partnered that month with Rain to launch digital wallets and Visa-branded cards in 37 markets, allowing users to hold and make payments with dollar-based stablecoins.