IMF Releases "Understanding Stablecoins" Report: Cross-Border Payment Applications Grow but Risks Remain

2025-12-05 00:17:12

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According to TechFlow, on December 5, the International Monetary Fund ((IMF)) released its latest report, “Understanding Stablecoins,” which shows that the issuance of stablecoins has doubled over the past two years, reaching approximately $300 billion, but accounts for only 7% of the total crypto asset market capitalization. The report points out that stablecoins are mainly used for crypto transaction settlement, but cross-border payment applications are rapidly growing.

Although stablecoins can improve payment efficiency and reduce cross-border transaction costs, the IMF warns of risks such as value volatility, impaired market functioning, bank disintermediation, and currency substitution, with particularly significant impacts on emerging markets and developing economies.

Currently, a global regulatory framework for stablecoins is taking shape, but implementation varies by country, presenting regulatory arbitrage risks. The IMF calls for strengthened international cooperation to ensure the potential benefits of stablecoins are realized while effectively managing risks.

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