Asia-Pacific has become the world’s fastest-growing stablecoin market. Speaking exclusively at AIBC Asia 2026, Stacey-Ann Pearson, Asia-Pacific Director at Utila, said the region’s mobile-first economy is creating the ideal environment for stablecoin-powered payments, particularly in cross-border transactions.
“Up until a few years ago, when we were looking at different digital assets, it was only being thought of as used for trading,” Pearson said. “Now we have one of the best use cases that we’ve seen in a while, which is for cross-border payments using stablecoins.”
Her comments come as Asia increasingly dominates global stablecoin adoption. Industry estimates suggest that nearly 60 per cent of the world’s $390 billion stablecoin payment market now originates in Asia, while global stablecoin transaction volumes exceeded $27.6 trillion in 2024, surpassing the combined annual transaction volume processed by Visa and Mastercard.
According to a report by Circle, stablecoin activity in the region reached $2.4 trillion between June 2024 and June 2025, growing 69 per cent year-on-year. Industry players say the growth is being driven by businesses and consumers looking for faster and cheaper ways to move money, with stablecoins increasingly being used for payments rather than just crypto trading.
Cross-border payments remain one of the biggest challenges facing businesses and individuals throughout Asia. Traditional bank transfers can take between three and five days to settle while fees often range between five and ten per cent, particularly across smaller currency corridors.
Pearson shared a personal example highlighting the problem. “I used to live in mainland China and I would try to send remittances to Central America,” she explained. “Do you want to guess how long it took me to send fiat currency from China to Jamaica?”
The answer was surprising. “Two weeks! There are quite a few markets in Asia that don’t get the same level of liquidity pools and visibility that some other currencies get,” Pearson said. “Stablecoins are able to fill that because they immediately settle.”
Unlike conventional banking systems, blockchain-based transfers also provide complete transaction visibility. “It’s on-chain, so you can watch where it’s travelling. It doesn’t disappear and then two weeks later appears somewhere else.”
The growth of stablecoins across Asia is being driven by practical utility rather than speculation. India currently has around 314 million stablecoin holders. Although the country has yet to establish a dedicated stablecoin regulatory framework, adoption continues to grow through remittances, international payments and dollar exposure.
The Philippines is one such case. The country receives more than $38 billion annually in overseas worker remittances, making payment efficiency a national priority. More than 12 million Filipinos actively use cryptocurrency, while stablecoin deposits reportedly increased by 64 per cent during 2025.
Pearson believes these real-world payment challenges explain why stablecoins are gaining traction.
“I do believe that different segments or regions within Asia are at the forefront of being able to utilise stablecoins for more efficient, more reliable and more cost-effective cross-border payments,” she said.
In Vietnam, they are increasingly being used to send money across borders and as a way to hold value in US dollars. Indonesia has also seen a sharp rise in activity, with stablecoin transactions climbing significantly over the past year.
A big part of that growth is coming from freelancers and remote workers. Many people who earn income from overseas clients are choosing stablecoins because payments can arrive much faster than through traditional banking channels, while also reducing the fees associated with international transfers.
While emerging markets are driving adoption, major financial centres are shaping regulation. Data shows that Hong Kong is world’s second-largest stablecoin hub after the United States. The region has seen a sharp increase in stablecoin activity over the past year, with transaction volumes growing rapidly as interest from both businesses and investors increased.
However, rather than pointing to one clear leader, Pearson noted that different markets across Asia-Pacific are contributing to the sector’s growth in different ways.
“One of the very interesting trends that I’m seeing is the entrepreneurship push, especially across Southeast Asia, the Philippines included,” she said. “You’re seeing more partnership between government and private sector to try and motivate more innovation.”
She also pointed to larger economies such as India and China, where the focus is shifting from innovation toward global scalability. “They’ve gone through the innovation phase and now you’re seeing the maturing of the ecosystem,” Pearson explained.
For Pearson, the future of stablecoins lies in removing these frictions from global commerce. “It really frees up entrepreneurs and businesses to focus more on building the business and growing the business.”
