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Payment Leaders Propel Stablecoin Unification: Trio of Tokens Take the Lead with Reduced Costs and Worldwide Accessibility

Payment Leaders Propel Stablecoin Unification: Trio of Tokens Take the Lead with Reduced Costs and Worldwide Accessibility

Bitget-RWA2025/11/19 09:08
By:Bitget-RWA

- Stablecoin market consolidates into three major coins (USDC, USDT, and an unnamed) due to regulatory clarity and institutional adoption. - Payment giants like Stripe and PayPal expand blockchain support, reducing transaction costs by up to 50% for e-commerce and remittances. - Regulatory scrutiny favors bank-backed tokens over stablecoins, as seen in Alibaba's cross-border payment strategy. - Despite Bitcoin's volatility, stablecoins maintain demand in efficiency-driven sectors, with Shopify integrating

The stablecoin sector is experiencing a notable phase of consolidation, with just three primary tokens—USDC,

, and a third, less widely recognized coin—emerging as the main contenders as industry-wide pressures mount. This pattern highlights a movement toward clearer regulations, greater institutional involvement, and improved cost-effectiveness, as smaller stablecoins find it increasingly difficult to rival the infrastructure and alliances established by the top players.

The leading position of these three stablecoins is clear from their adoption by international payment processors and online commerce platforms. Stripe, which handles hundreds of billions in transactions each year, broadened its

support in October 2024 to include , , and Polygon, making it possible for merchants to process cross-border payments at lower costs. By 2025, Stripe expanded these capabilities to cover subscription payments on both Base and Polygon, catering to the 30% of its merchants who depend on recurring income streams. Businesses utilizing stablecoins noted that their transaction expenses dropped by about half compared to conventional card networks, with through stablecoins.

PayPal’s PYUSD also saw increased adoption in 2025, expanding its reach from four to thirteen blockchains, such as

, , and . This expansion is part of a larger industry effort to broaden blockchain access while competing with USDC and USDT, which continue to dominate in terms of market value. for remittance services, aiming to bypass correspondent banks in high-friction payment corridors—a move that could cut down on both delays and intermediary charges.

The persistence of only three leading stablecoins is partly due to their regulatory and operational strengths. For instance,

(such as assets backed by US dollars or euros) over stablecoins for its international payments system demonstrates a preference for bank-issued tokens in regions with strict regulatory oversight. This indicates that projects lacking robust compliance or sufficient liquidity may become increasingly sidelined.

On the other hand, decentralized finance (DeFi) initiatives offer a different but still developing perspective on stablecoin applications. Nevertheless, their emphasis on automated lending and borrowing protocols does not yet match the scalability or institutional credibility of the top three stablecoins.

This consolidation trend is also influenced by wider economic factors. While Bitcoin’s recent price swings—nearing a “death cross” formation—have attracted attention, demand for stablecoins remains strong in industries focused on efficiency, such as online retail and remittances.

with Coinbase’s Base network in June 2025, for example, enabled merchants in 34 countries to benefit from instant fiat settlements and zero foreign exchange fees, further embedding stablecoins in international trade.

Some critics warn that the dominance of three stablecoins could lead to centralization, but supporters argue that their widespread use has simplified financial systems.

for an increasing proportion of cross-border payments, with specialized firms like ForumPay providing tools to help businesses manage volatility risks.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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