Asia is turning stablecoins into banking infrastructure
Speculative crypto may be tottering, but stable tokens are finding their feet across the region
For a freelance software developer in Lahore or a nanny from Manila, smartphones are now crypto banks. Instead of losing the equivalent of as much as a day’s pay to wire-transfer fees, their owners can instantly send and receive stablecoins (digital tokens, generally pegged to the dollar) and at low cost.
Such experiences explain why, despite official wariness, crypto is flourishing across Asia—even in places like India, which has among the world’s strictest cryptocurrency policies, taxing gains at 30% and deducting a whopping 1% from transactions. India was home to an estimated $338bn in crypto inflows between the middle of 2024 and 2025, ranking it first in the world for the third year in a row on an index measuring global cryptocurrency adoption by Chainalysis, a data firm.
This is a game-changer for individuals in countries with high wire-transfer fees, stablecoins are making it easier and more affordable for people to send and receive money across borders. The use of stablecoins as a banking infrastructure is a great example of how blockchain technology can improve financial inclusion in developing regions.