From Promise to Proven: How Stablecoins Are Reshaping Global Payments

See how stablecoin-backed card programs work, where the market is headed, and why leading fintechs are building with Lithic.

Stablecoins are entering their infrastructure era

After years of speculation and volatility in broader crypto markets, stablecoins have emerged as a credible way to store and transmit value—especially across borders. Over the past 12 months alone, stablecoin transaction volume (adjusted to filter out activity like high-frequency trading, bots, and redundant internal transactions) has grown from just $559B in 2020 to over $8T in 2025 (Visa On-Chain Analytics)*.

That kind of scale indicates that interest in the stablecoin market is no longer an ephemeral signal of crypto enthusiasm, but concrete proof that a new set of rails is taking shape within the global payments ecosystem.

What makes stablecoins compelling is the fact that they solve persistent and deep-rooted financial problems, including:

• Reducing settlement delays and counterparty risk
• Mitigating foreign exchange (FX) friction
• Preserving purchasing power in unstable currency environments
• Enabling new financial applications and global platforms

But like any technology moving from experimentation to actual use, stablecoins need robust infrastructure to cross the chasm. In this ebook, we explore what that infrastructure looks like, where stablecoin-backed payment models are gaining traction, and how Lithic is enabling programs to launch and scale in production today.

Stablecoin adjusted transaction volume*

*Adjusted stablecoin transaction volume filters out certain activity like high-frequency trading, bots, and redundant internal transactions from complex smart contracts to arrive at a volume estimate that more closely represents actual stablecoin activity. Source: Visa On-Chain Analytics

Adjusted stablecoin transaction volume has grown from $559.81B in 2020 to $8.11T in 2025. This metric excludes activity such as high-frequency trading, bots, and redundant internal smart contract transactions to better reflect underlying stablecoin usage. Source: Visa Onchain Analytics.

What’s driving stablecoin adoption?

The demand for stablecoins is coming from global businesses solving real-world problems and traditional players across the payments landscape are paying attention. Both Visa and Mastercard have begun stablecoin settlement pilots. Forward-looking regulators are beginning to differentiate stablecoins from broader crypto markets. And infrastructure partners like Lithic are working to make spending stablecoins as easy as spending dollars. These are some of the most popular use cases:

Use cases:

• Remittance corridors: Stablecoins reduce friction in international value transfers.
• Treasury optimization: Stablecoins eliminate the settlement gaps inherent in wire-based card programs.
• Cross-border payroll: As companies hire remote workers and contractors globally, stablecoins provide a common-denominator currency.
• Wallet-native commerce: Web3 and fintech-native platforms are looking to let users spend stablecoin balances directly.

Stablecoins, deposit tokens, and the tokenized money spectrum

As stablecoin usage matures, it’s important to recognize that not all tokenized currencies are created equal. Two dominant models are beginning to emerge:

1. Privately issued stablecoins (e.g., USDC, USDT): They are anchored to fiat currencies through reserve holdings. These tokens have practical applications, such as remittances and cross-border payroll.
2. Bank-issued stablecoins or deposit tokens (e.g., JPM Coin): They are designed for modernizing settlements and liquidity management, primarily as an interbank tool.

Why cards provide the best off-ramp for stablecoins

For consumers who receive or hold stablecoins, cards offer the simplest way to access and use those balances. They require no crypto literacy and work seamlessly in stores and online. Lithic is making stablecoin-backed cards accessible and flexible, allowing card providers to launch and scale without restriction.

Cards:

• Increase acceptance: Anyone with a card can spend stablecoin-backed USD.
• Deliver a seamless experience: Conversion happens on the provider’s side, requiring no extra steps for cardholders.
• Accelerate adoption: Users and merchants can transact as they always have.

Real-world examples of stablecoin-backed cards

Lithic supports various real-world use cases including:

• Remittance Recipient: Instant access to funds for everyday expenses.
• International Freelancer: Bypasses traditional cross-border fees and delays.
• Web3 Wallet Provider: Enables global retail spending directly from stablecoin wallets.

Why legacy infrastructure doesn’t cut it

Most legacy platforms struggle with the flexible nature of stablecoin payments. Lithic was engineered for the realities of 24/7 payments with robust processing and settlement capabilities that ensure reliability.

Key differentiators:

• Integration Model: Modular, API-first, and developer-friendly.
• Authorization Logic: Real-time programmable authorization.
• Currency Flexibility: Supports stablecoins natively.
• Reporting & Reconciliation: Instant, transparent reconciliation.

How Lithic is enabling stablecoin-backed programs

Lithic designed its issuer processing platform to eliminate the constraints of legacy systems. The platform connects directly to major international card networks, providing a resilient architecture with high reliability.

Unique features of Lithic’s platform:

• Fast, clean connections to major networks.
• Multicurrency support out of the box.
• Proven in production powering various card programs.

How Lithic and Rain are making stablecoin-backed cards a reality

Together, Lithic and Rain are enabling card programs that integrate with seamless real-time authorization for stablecoin transactions. They allow transaction processing across numerous countries, delivering instant spendability without conversion delays.

What’s next in stablecoin-backed payments

Lithic expects to see advanced use cases emerge including:

• On-chain rewards and loyalty programs.
• Smart contract payroll automation.
• Decentralized spend controls for DAOs.

Lithic is committed to building the infrastructure for a multi-rail future that delivers trusted, fast, and compliant experiences for stablecoin payments.