Tldr:
- Stablecoin payments volume will reach $400 billion in 2025, with 60% of transactions driven by B2B activity.
- Bridge covers 35 countries but has no local rail presence in the Asia-Pacific region, revealing significant gaps in coverage.
- Conduit operates at a rate of approximately 10 basis points on foreign currencies, compared to Bridge’s fees of up to 1% per transaction.
- Fasset has reached $32 billion annually across more than 50 corridors after securing a $51 million Series B funding round.
The volume of stablecoin payments will reach $400 billion in 2025, of which 60% will be paid B2B transactions. However, many fintech companies still rely on a single US-based provider to cover global lanes.
The reality is that stablecoin infrastructure has split into regional specialists, each with deep integrations into local railways, mobile money networks, and central bank relationships.
For cross-border operators, knowing who controls each lane is now more important than ever.
Regional players are outperforming US-centric APIs
The stablecoin format landscape has changed dramatically over the past three years. What once existed as a few U.S.-based APIs has evolved into a dense network of regional operators.
Each corridor now has its own infrastructure, built by teams with first-hand knowledge of the local payment reality.
In Europe, native MiCA providers like BVNK process $30 billion annually. This number reflects how quickly regulated regional operators are gaining ground.
Meanwhile, in Latin America, providers like Bitso and dLocal have built on local systems like PIX and SPEI.
As industry observer Gaspard Lezin pointed out on
Africa makes a strong case for the integration of mobile money and stablecoins. Providers like yellow card, Both Conduit and Kotani Pay operate where traditional banking infrastructure remains weak. Conduit alone covers 23 African countries and offers significantly lower fees than global competitors.
Cost and coverage gaps are driving this shift
Fee structures are one of the clearest reasons companies are moving away from single provider models. Bridge charges fees of up to 1% on FX transactions, while Conduit works around 10 basis points. This difference multiplies exponentially at scale for B2B treasury teams.
Coverage gaps are equally important. Bridge, which covers 35 countries, has no local rail presence in the Asia-Pacific region. By contrast, StraitsX processed nearly $30 billion in cumulative volume across Asia.
Faset’s value recently reached $32 billion annually across more than 50 corridors in Asia, Africa and countries around the world. The Middle East Following a Series B of $51 million.
In Asia Pacific, Kraken acquired Reap for $600 million, validating the region’s growth trajectory. FOMO Pay, Triple-A and PhotonPay are also deepening local integrations across the region.
For companies managing multi-lane supplier payments, the practical answer is a regional stack. Our B2B Treasury team pays suppliers across Lagos, Sao Paulo, Jakarta and Dubai It requires different infrastructure in each market.
Aggregation layers like Borderless.xyz are emerging to consolidate these regional providers into a single API, reducing operational complexity without sacrificing local depth.
