WASHINGTON — The global supply of stablecoins could expand as much as 12-fold by 2030, reshaping how money moves across the financial system and forcing banks to accelerate plans for their adoption, according to a new report from Bain & Company.
The report describes the shift as a “great rewiring of wholesale banking,” with stablecoins and tokenized deposits evolving from niche tools used largely in crypto trading into core infrastructure for global finance. The firm said financial institutions are now confronting not whether these digital instruments will matter, but how quickly they must act and where to deploy them.
Stablecoins are increasingly being used in areas such as foreign exchange, collateral management and corporate treasury operations as banks and multinational companies seek to reduce inefficiencies in cross-border payments, Bain said. Persistent challenges — including fragmented foreign exchange markets, settlement delays and pre-funding requirements — continue to constrain the global flow of funds.
‘Complexity’ a Pain Point
The consulting firm found that 34% of chief financial officers cited cross-border complexity as a leading pain point. Stablecoins and tokenized deposits can address those issues by enabling near-instant, programmable transfers of value across borders, reducing settlement times and improving capital efficiency by allowing funds to be reused more quickly.
Ricardo Correia, a partner in Bain’s financial services practice, said the shift goes beyond faster payments and raises broader questions about control over how money moves through the financial system. He said banks face a narrowing window to shape emerging settlement networks, while those that delay risk relying on infrastructure built by others.
‘Significant Barriers’
Despite the momentum, Bain said regulatory, compliance and operational hurdles remain significant barriers, particularly in areas such as sanctions screening and transaction monitoring across jurisdictions. Early adoption is likely to focus on high-friction use cases, including cross-border settlements and treasury operations.
The firm outlined several priorities for banks, including investing in compliance and infrastructure, piloting targeted applications and approaching issuance of proprietary stablecoins only after sufficient scale and demand are established.
Bain said the future financial system is likely to operate on a dual framework in which traditional and digital systems coexist, allowing capital to move seamlessly between both. Early adopters are already influencing how these emerging networks are designed and governed, positioning themselves to capture value as the next generation of wholesale banking takes shape.
For the report, go here.
