Stablecoin-based remittances accounted for up to 9% of transactions during a payment experiment supported by the Bank of Italy, highlighting the growing role of blockchain-based assets in cross-border money transfers.
The test examined how stablecoins could be used alongside traditional payment systems to facilitate international remittances. The findings showed that digital assets may offer an alternative route for moving money across borders, particularly in regions where conventional transfers can involve higher costs, longer processing times, or limited access to financial services.
According to the results, stablecoin transactions represented a measurable share of the payment activity during the trial. The experiment also explored how blockchain infrastructure could support faster settlement while maintaining compliance with financial regulations.
Stablecoins are digital assets designed to maintain a relatively stable value by being linked to currencies or other reserve assets. Their use in payments has increased as financial institutions and technology companies explore blockchain networks for transfers, settlements, and cross-border transactions.
Unlike traditional international transfers, which may involve several banks and intermediaries, stablecoin transactions can be processed directly through blockchain networks. This structure could reduce settlement times and improve the availability of payment services across different regions.
However, the Bank of Italy’s test also highlighted the importance of regulatory oversight. Stablecoin-based payment systems must address requirements related to customer identification, anti-money-laundering controls, transaction monitoring, and consumer protection before they can be adopted on a wider scale.
The experiment comes as European regulators continue to develop a clearer framework for digital assets under the Markets in Crypto-Assets Regulation, or MiCA. The rules establish requirements for crypto-asset service providers and stablecoin issuers operating across the European Union.
Italy has also raised concerns about the risks associated with stablecoins issued across multiple jurisdictions. The Bank of Italy has called for greater clarity around reserve management, redemption rights, and the regulatory responsibilities of issuers operating internationally.
The results of the remittance test indicate that stablecoins may have practical applications beyond cryptocurrency trading. Cross-border payments remain one of the most frequently discussed use cases because blockchain networks can operate continuously and support faster transfers between countries.
Despite the potential benefits, broader adoption will depend on the development of reliable infrastructure, regulatory compliance, and stronger safeguards for users. Financial institutions will also need to determine how stablecoin systems can integrate with existing banking and payment networks.
The Bank of Italy’s experiment adds to growing efforts by central banks and financial institutions to assess how blockchain-based assets could support future payment systems. As regulatory frameworks continue to develop, stablecoin remittances may become a more established part of the global payments landscape.
