By Maria Oldham, COO of Yellow Card
NAIROBI, Kenya, Feb 10 – The debate around stablecoins has largely missed the point. For many businesses, the question is no longer whether stablecoins will matter, but whether they have already waited too long to engage with them strategically. In 2025, stablecoins quietly crossed a threshold, not as a speculative asset, but as part of the infrastructure through which value increasingly moves across borders.
From my perspective, the biggest risk businesses face today is not adopting stablecoins too early. It is doing nothing at all. One of the clearest signals in 2025 came not from crypto-native firms, but from the most established institutions in global finance.
Visa expanded its stablecoin settlement capabilities. Mastercard accelerated its on-chain payments initiatives. J.P. Morgan launched its USD-denominated deposit token (JPM Coin/JPMD) on the public Base blockchain for institutional clients, SWIFT, long synonymous with correspondent banking, began exploring how digital assets could integrate with existing financial rails rather than sit outside them. According to public statements from these institutions, the focus was not disruption, but efficiency, interoperability, and scale.
These organisations do not move quickly, and they do not move speculatively. When they adapt, it is because underlying economic behaviour has already shifted.
At the same time, according to the State of Crypto Report, transaction volumes last year reached $9 trillion, up 87% from the year prior. Importantly, a growing share of this activity was driven by real economic use – enterprise payments, remittances, payroll, and cross-border settlement – rather than trading.
For businesses, the implication was clear. The way value moves globally is changing, with or without them.
For years, inefficiencies in cross-border payments were tolerated as a cost of doing business. Slow settlement, high fees, fragmented banking relationships, and currency volatility were accepted constraints.
In 2025, those constraints became harder to justify.
Geopolitical uncertainty, persistent inflation, and uneven access to banking infrastructure placed new pressure on global operations. Predictability – in cash flow, settlement, and access to capital – became a strategic asset.
Stablecoins addressed these challenges directly. They reduced settlement times, lowered transaction costs, and offered businesses greater control over liquidity across markets. Faster settlement and reduced FX friction can materially improve working capital efficiency for firms operating across multiple jurisdictions.
This is why stablecoins should not be viewed as a payments trend. They are increasingly a business continuity tool. However, there is also a subtler risk in delay.
Businesses that leave stablecoins unexamined until competitive or regulatory pressure forces action often find themselves making rushed decisions – selecting partners, structures, or jurisdictions simply to move, rather than to move well. We have seen this pattern repeatedly with major infrastructure shifts.
When organisations adopt late, strategy gives way to urgency. Decisions are made to catch up, not to build sustainably. The result is often years spent unwinding systems, renegotiating regulatory approaches, or re-engineering processes that were never designed for scale in the first place. Time still exists; but optionality is already shrinking.
Across emerging markets, this shift is not theoretical. It is already embedded in daily economic life. At Yellow Card, the largest licensed stablecoin infrastructure provider operating across Africa and emerging markets, we see how businesses use stablecoins to manage currency exposure, access global markets, and operate more efficiently where traditional financial systems remain fragmented or unreliable. According to the World Bank, cross-border transaction costs remain disproportionately high in emerging economies – making alternative rails particularly valuable.
But scale brings complexity. Regulation varies by jurisdiction. Infrastructure gaps differ by market. Compliance, trust, and local context matter deeply.
This is where a stablecoin strategy becomes critical. Success does not come from ignoring complexity, but from navigating it, combining global capability with local understanding.
Emerging markets are not a test case for stablecoins. They are where stablecoins have already proven their value.
So, what does a stablecoin strategy actually mean?
It does not mean abandoning banks or replacing existing systems. It means understanding where stablecoins complement current infrastructure, and where they create competitive advantage.
In 2026, leading businesses will be asking: Where can stablecoins reduce friction in our operations? How do they improve settlement speed and cash-flow visibility? How do we expand into new markets without inheriting unnecessary financial risk?
These are not speculative questions. They are operational, strategic, and increasingly board-level.
The bottom line is that stablecoins are no longer optional knowledge. They are becoming part of the economic operating system – often invisible, increasingly embedded, and judged not on novelty but on reliability. Businesses that engage early will shape how this infrastructure is used. Those that delay will be forced to adapt later, under pressure.
In moments of structural change, waiting is rarely neutral. It is a decision, and often an expensive one. Be certain of this, 2026 will reward businesses that chose to understand early.
