Early Warning Services, the parent company of payments platform Zelle, announced the integration of stablecoins to facilitate cross-border transactions for money flowing to and from the United States. The Zelle platform, collectively owned by member banks like Wells Fargo and JP Morgan, has already enabled near-instant payments since its launch in 2017.

Stablecoins have surpassed a market capitalization of $300 billion, according to DeFiLlama. This milestone comes as the asset class gains renewed attention and adoption following the regulatory framework established for stablecoins in the US by the GENIUS Act. Dollar-pegged stablecoins are now utilized for cross-border commerce, remittances, and savings.

Latin American individuals and businesses are increasingly turning to stablecoins to store savings and conduct daily commerce, providing an alternative to traditional banks with poor infrastructure in the region. Crypto exchange Bybit’s co-CEO notes rapid adoption in countries like Argentina, Venezuela, Bolivia, and Mexico. Overcollateralized stablecoin issuer Tether’s co-founder predicts all fiat currencies will be stablecoins by 2030.

Read more at Cointelegraph: Zelle Adopting Stablecoin Rails for Cross-Border Payments to and From US