As stablecoins shift from speculative instruments to essential payment infrastructure, industry leaders emphasise that overcoming last-mile delivery challenges and regulatory clarity are critical for realising their full potential in global commerce.
Stablecoins are being recast from a crypto trading instrument into plumbing for payments, but the shift only matters if money can make it from blockchain to bank account without friction. Raj Kamal, founder and chief executive of TransFi, argues that the real test is no longer whether a digital dollar can move quickly on-chain, but whether businesses can turn that transfer into usable local currency at the far end. TransFi says it already works across more than 70 countries, handling hundreds of payment methods, multiple currencies and digital assets, and Kamal says demand is coming from firms that want faster, cheaper transfers rather than crypto exposure.
That distinction matters because the hardest part of stablecoin payments is often the last mile. A supplier, employee or customer usually does not want to hold a token; they want funds in a bank account, wallet or local payout route they already use. Kamal told The Fintech Times that this is where foreign exchange, compliance, liquidity and domestic payment rails become decisive. Industry explainers from PYMNTS, dLocal and Glide make the same point: stablecoins can speed up cross-border movement, but they still depend on on-ramps, off-ramps, payout partners and currency conversion to become useful in everyday commerce.
The industry response has been to tie stablecoin settlement more closely to domestic real-time payment systems. PYMNTS said that stablecoin settlement is increasingly being used to bridge cross-border transfers into local RTP networks, supporting use cases such as payroll, remittances, treasury and merchant settlement. That logic is visible in commercial infrastructure being built by firms such as dLocal, which says its stablecoin platform spans more than 60 markets and more than 1,000 local payment methods, and by AllUnity, which describes a process in which fiat is converted into a stablecoin, moved across blockchain rails and then converted back into local money on arrival.
Even so, adoption still hinges on trust, controls and regulation. Kamal said the sector now needs clearer rules on licensing, reserves, anti-money-laundering checks and consumer protection, while also improving interoperability between stablecoins, banks and instant-payment systems. PYMNTS likewise says the main barriers are regulatory clarity, institutional confidence and strong risk management around custody and infrastructure security. In Europe, the European Commission opened a targeted consultation on the Markets in Crypto-Assets framework in May 2026, a sign that policymakers are still working out whether current rules can keep pace with the market.
The broader bet is that stablecoins will not replace existing payment rails so much as sit between them. Kamal pointed to the Bank for International Settlements’ Project Agora as evidence that central banks and commercial banks are exploring atomic, multi-currency settlement models rather than a full break with the current system. For businesses, the prize is not simply faster blockchain transfers. It is a payment stack that can route funds reliably across borders, comply with local rules and disappear into ordinary commerce.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
