Stablecoins Gain Ground for Paychecks and Daily Spending, BVNK Report

A cross-border snapshot from BVNK and YouGov shows stablecoins moving from niche crypto wallets into mainstream payroll and everyday spend. The online survey, conducted in September and October 2025 among 4,658 adults who currently hold or plan to acquire cryptocurrency across 15 countries, reveals a broad willingness to use dollar- and euro-pegged coins for earnings, remittances, and purchases. Key findings include that 39% already receive income in stablecoins, 27% use them for daily payments, and average holdings sit around $200 globally, rising to roughly $1,000 in higher-income economies. The data also suggests strong demand for wallet access via banks or fintechs and for linked debit card usage.

Key takeaways

• 39% of survey respondents report earning income in stablecoins, with 27% using stablecoins for everyday transactions, highlighting a shift from speculative trading to functional payroll utilities.
• Respondents hold an average of about $200 in stablecoins worldwide, while holdings in high-income economies average near $1,000, indicating material savings potential for more affluent users.
• 77% would consider opening a stablecoin wallet with their primary bank or fintech provider, and 71% express interest in a linked debit card to spend stablecoins, signaling traditional financial institutions’ potential pivotal role.
• People receiving stablecoin income report that stablecoins constitute roughly 35% of their annual earnings on average; cross-border transfers with stablecoins save about 40% in fees compared with traditional remittance methods.
• Ownership is highest in lower- and middle-income economies, with Africa showing the strongest uptake at 79%, underscoring a regional tilt toward cost-effective digital payments.

Market context: The findings arrive during a wave of regulatory attention and enterprise adoption around stablecoins. In the United States, the GENIUS Act is shaping the policy debate on stablecoins and embedded finance, while Europe’s Markets in Crypto-Assets Regulation (MiCA) is catalyzing compliance-driven use cases for wages and cross-border settlements. Meanwhile, the stablecoin market has surged to roughly $307.8 billion in total value, up from around $260.4 billion in mid-2024, underscoring growing scale and willingness to use digital currencies for non-speculative purposes.

A BVNK spokesperson emphasized that the study was designed to illuminate usage patterns among current and prospective crypto users rather than measure broad population adoption. The respondents tend to diversify across multiple dollar- and euro-pegged stablecoins rather than relying on a single issuer, suggesting a preference for multi-token liquidity management. When it comes to where to manage these assets, exchanges are favored by 46% of respondents, followed by crypto-enabled payment apps (like PayPal or Venmo) at 40% and mobile wallet apps at 39%. Only a minority—13%—prefer hardware wallets for custody.

BVNK, a London-headquartered company founded in 2021, built its business around stablecoin-enabled payments infrastructure for enterprises. In June, it partnered with San Francisco-based Highnote to introduce stablecoin-based funding for embedded-finance card programs, signaling a broader push to integrate digital assets into everyday financial services. The collaboration aims to streamline funding flows for card programs that rely on stablecoins as a settlement medium, reducing friction for merchants and employers alike.

An ecosystem narrative is emerging around payroll and cross-border payments. In the United States, the GENIUS Act has accelerated discussions about how payrolls can be paid with digital assets within a regulated framework, while Europe’s MiCA framework pushes providers toward transparent disclosures and robust consumer protections. The combination of regulatory clarity and corporate experimentation is accelerating the adoption of stablecoins in payroll workflows and cross-border settlements, as businesses seek faster settlement cycles and lower costs. The underlying stability of pegged coins makes them more reliable for wage payouts and reimbursements than traditional crypto assets with heightened volatility.

Beyond payroll, the market is advancing toward regulated, enterprise-grade integrations. For instance, Deel announced on Feb. 11 that it would begin offering stablecoin salary payouts through a collaboration with MoonPay, starting with workers in the United Kingdom and European Union and later expanding to the United States. Under the arrangement, employees can opt to receive part or all of their wages in stablecoins to non-custodial wallets, with MoonPay handling conversion and on-chain settlement while Deel continues to manage payroll and compliance. MoonPay has been positioned as the on-ramp for gateway conversions in this setup.

On the enterprise side, the pace of consolidation continues. Paystand recently acquired Bitwage, a platform focused on cross-border stablecoin payouts, a move that broadens Paystand’s B2B payments network for digital-asset settlements and foreign exchange capabilities. Paystand notes that its network has already processed more than $20 billion in payment volume, reflecting growing demand from businesses for stablecoin-enabled settlement and liquidity management. The deal signals that corporate back offices are increasingly viewing stablecoins as a legitimate, scalable settlement layer rather than a speculative vehicle.

While the strict price stability of stablecoins—tied 1:1 to fiat currencies such as the U.S. dollar or euro—addresses volatility concerns for payments, the research also hints at ongoing diversification. Respondents indicated a tendency to hold multiple stablecoins rather than relying on a single issuer, a pattern that could complicate compliance and liquidity management for institutions that serve as on/off ramps for ordinary users. DefiLlama’s data reinforces the point: the stablecoin sector has grown rapidly to hundreds of billions in market capitalization, underscoring that stablecoins are no longer peripheral to crypto markets but are becoming central to payment rails and cross-border transfer ecosystems.

As this secular shift unfolds, questions remain about the pace of mainstream adoption and the regulatory guardrails that will shape long-term viability. The GENIUS Act and MiCA are not just about consumer protection; they are about enabling compliant, bankable use cases for digital assets in payroll, benefits, and enterprise settlement. The rise of payroll-focused stablecoins, in particular, could help workers in regions with limited banking access and high remittance costs participate more fully in the digital economy, while offering employers a more cost-efficient and auditable method of payroll settlement.

What to watch next

• Regulatory developments around the GENIUS Act and the US approach to stablecoins as payroll instruments (timeline updates and potential amendments).
• Progress of Europe’s MiCA implementation and how financial institutions integrate stablecoin-based payroll and cross-border payments within the regime.
• Deel’s rollout of stablecoin payroll in the UK/EU and subsequent US rollout timelines, along with adoption metrics and employee uptake.
• Paystand’s continued integration of Bitwage and the broader adoption of enterprise-grade stablecoin settlement across global B2B networks.
• Regional variations in stablecoin ownership, particularly in Africa and other emerging markets, and how these dynamics influence merchant acceptance and wallet adoption.

Sources & verification

• BVNK-YouGov survey methodology: online fielded in September–October 2025 across 15 countries with 4,658 respondents who currently hold or plan to acquire cryptocurrency.
• Survey findings on income in stablecoins, everyday use, and average holdings, including the 39%/27% figures and the $200 global average (rising to ~$1,000 in high-income economies).
• Banking/fintech adoption metrics: 77% would open a stablecoin wallet with their primary bank or fintech provider; 71% interested in a linked debit card.
• Enterprise movements: Deel’s stablecoin payroll pilots with MoonPay; Paystand’s acquisition of Bitwage and its impact on cross-border settlements.
• Regulatory context and market size: GENIUS Act references and MiCA, along with DefiLlama’s stablecoin market capitalization data.

Stablecoins move from wallets to payroll: how a global survey maps the shift

The report’s narrative centers on a pragmatic shift in how people interact with digital assets. Stablecoins are increasingly viewed not as a speculative instrument but as a practical tool for earning, paying, and moving money across borders. In the 4,658-person sample, a substantial portion already earns in stablecoins, and a growing share uses them for routine payments. The implication for merchants is equally striking: more than half of crypto holders have made purchases specifically because a merchant accepts stablecoins, and the propensity to spend stablecoins rises to 60% in emerging markets. This suggests a feedback loop where consumer demand for stablecoin-enabled checkout can spur broader merchant adoption and, in turn, drive demand for compliant, scalable on-ramps and off-ramps.

From a banking and fintech perspective, the data hints at a possible reorientation of product design. If 77% of respondents would consider opening a stablecoin wallet with a bank or fintech and 71% want a linked debit card, incumbents may respond with regulated wallets, insured custodianship, and seamless settlement rails that reduce friction for wages and cross-border payroll. The fact that a meaningful share of earnings already comes in stablecoins points to a future where payroll providers, payroll tech platforms, and banks co-create wage ecosystems that can operate inside regulatory constraints while offering on-chain settlement where appropriate. The partnership of BVNK with Highnote to embed stablecoin funding into card programs signals how the industry is pursuing this convergence, aligning corporate cards with stablecoin liquidity as a basic building block of embedded finance.

Beyond payroll, the story touches on regulatory readiness. The GENIUS Act and MiCA collectively push the market toward standardized disclosures, consumer protections, and clear tax and accounting treatments for stablecoins used in wages and cross-border payments. In this environment, the operational and technological investments—such as Deel’s stablecoin payroll via MoonPay and Paystand’s acquisition of Bitwage—reflect a broader trend of enterprises rethinking how digital assets can underpin scalable, compliant financial operations. The data also underscores a geographic dimension: ownership and usage skew higher in Africa and other lower- and middle-income economies, suggesting that stablecoins could play a critical role in expanding financial access where traditional rails are costly or fragile.

As the market grows, so does the importance of robust, verifiable data. The DefiLlama figure placing the stablecoin market around $307.8 billion reinforces that stablecoins have transcended their early-stage, speculative perception. They are increasingly intertwined with the actual plumbing of payments—settlement, remittance, and payroll—where speed, cost, and regulatory compliance are essential. While the path to full mainstream adoption remains uneven across regions and assets, the convergence of consumer demand, enterprise infrastructure, and regulatory clarity paints a credible trajectory for stablecoins to become an integral part of everyday financial life. For stakeholders—whether individuals earning in the digital currency economy, merchants seeking lower-payment friction, or institutions building the next generation of compliant digital finance—this survey provides a map of where trust, convenience, and policy align to unlock real-world value.