Beyond SWIFT: How stablecoins are redefining global payments
For decades, both businesses and people have relied on slow, multi-intermediary rails to move money across borders. The undisputed heavyweight here is SWIFT – the messaging network that banks use to relay payment instructions. It's the backbone of international finance, but it isn't a payment system in itself. Whether you're sending GBP to the UK or HKD to Hong Kong, every international transaction will move through a maze of middlemen (banks, compliance platforms and exchanges), each adding a layer of cost and delay. It's not uncommon for payments to take days to settle, particularly when crossing currencies or jurisdictions. Cut-off times, public holidays, and regulatory reviews all contribute to a process that hasn't kept pace with how the rest of the world moves.
It's no surprise then that in 2025, more users than ever turned to stablecoins to send and receive funds, driving an 83% increase in volume from 2024.
What are stablecoins and how do they work for global settlement?
Stablecoins are digital assets that maintain a stable value by pegging to a reserve, usually a fiat currency like the US dollar or euro. Unlike more volatile cryptocurrencies, stablecoins mirror the price of familiar currencies or assets – including physical assets, such as gold – making them suitable for everyday transactions and financial operations.
What's unique about stablecoins is how they move. Unlike traditional bank transfers, stablecoin transactions settle directly on the blockchain without going through the legacy maze of intermediaries. This means no waiting on bank hours, no batch processing, and no third parties adding friction along the way. Once a payment is sent, it usually arrives within minutes, with finality built into the transaction itself. The reason this works so well for settlement is simple: stablecoins combine the speed and transparency of digital tokens with the reliability of asset-pegged value.
The infrastructure is also 'always-on', meaning funds can be transferred 24/7 – whether it's paying a contractor across time zones, moving liquidity between wallets, or settling an invoice after hours.
Off-ramping stablecoins into fiat with SettlementX
Efficiently transferring funds from one wallet to another is only part of the picture. When you need to cover real-world costs or pay out in local currency, those stablecoins need a way back into fiat, quickly and reliably. This is where off-ramping comes in.
At SettlementX, we make it simple to convert stablecoins like USDC or USDT into major fiat currencies, including GBP, USD, EUR and AED. Through allocating regulated named IBANs, we also support same-day off-ramps in key markets, supported by 12+ global banking partners. Whether you're withdrawing dirhams into a local bank account in Dubai or sending euros to a client in Spain, our job is to get there faster – and at a better rate.
Final thoughts
For all the ease and transparency that stablecoins offer, they're not a silver bullet. Like any emerging technology, they come with trade-offs: the most significant of which is irreversibility. Once a stablecoin transaction is sent, it cannot be undone, making diligent controls essential.
SWIFT, for all its inefficiencies, remains deeply entrenched, governed by decades of institutional infrastructure and understood by financial systems around the world.
The shift then is less about replacing one system with another, and more about having the freedom to choose based on your needs and timing. For businesses that value speed, transparency, and programmable control, stablecoins are becoming a vital part of the modern payment stack.
At SettlementX, we help you use them securely, move faster, and off-ramp with confidence. Reach out today for personalised guidance.