Stablecoins Comprise Less Than 5% of Regulated US Payments

Stablecoins currently account for less than 5% of transaction volume within regulated U.S. payments infrastructure, according to David Simon, president of the payment processor Reliant [1]. While global stablecoin networks settle trillions of dollars annually, their integration into compliant, domestic payment systems remains in the early stages of adoption [2].

Key takeaways

• Reliant reports that over 95% of its current business volume is still conducted in fiat currency [1].
• The company launched its RAMFi platform in October 2025 to unify fiat and digital asset movement under a single regulatory framework [2].
• Reliant aims to shift its transaction mix to 90% fiat and 10% digital assets within a year, targeting an 80-20 split within two years [1].
• Practical use cases for stablecoin integration include insurance claim payouts, class action settlements, and cross-border real estate funding [2].

Expanding Digital Asset Infrastructure

Reliant, which has operated in the debt settlement industry for over 15 years, is working to integrate digital assets into its existing payment rails [1]. The company’s RAMFi platform was developed to support institutional clients, including fintechs and digital asset exchanges, with launch partners such as BitGo, CoinX, and Strategic Claims [1]. Despite the rapid growth of stablecoins on global crypto networks, Simon noted that the primary challenge for operators is determining where to derive the most yield from these transactions [1].

For payment processors, the revenue stack for stablecoins involves a combination of transaction, conversion, and custody fees [2]. Simon emphasized that while volume is a common metric for success, the company is focused on maintaining the high margins characteristic of its traditional debt settlement business as it incorporates digital assets [1]. The firm is currently exploring how to utilize stablecoins to improve efficiency in "constrained corridors," such as moving large sums for international real estate development [1].

Why it matters

The limited adoption of stablecoins within regulated U.S. infrastructure highlights a divide between the high-volume activity on global crypto rails and the more cautious integration within traditional financial systems [2]. While the broader financial sector is debating the impact of stablecoins on bank deposits—with some estimates suggesting billions could shift if yield-bearing products become widespread—operators like Reliant are focused on the practical, operational utility of digital assets for specific disbursement use cases [1, 3]. As the regulatory landscape matures following the 2025 GENIUS Act, the industry continues to navigate the tension between the potential for increased payment efficiency and the need to maintain profitability and compliance [1, 3].