Stablecoins Strengthen Role in Blockchain Gaming Amid Regulatory Advances
Stablecoins are increasingly becoming the backbone of blockchain gaming economies in 2024, used extensively for payouts, rewards, and cross-game transactions, marking a shift away from speculative designs.
According to the Blockchain Gaming Alliance's 2025 report, stablecoins processed an estimated $27.6 trillion in transfer volume this year, surpassing the combined volumes of Visa and Mastercard.
Fiat-backed stablecoins represent about 30% of all crypto transactions, with USDT and USDC constituting over 90% of that supply.
Following a downturn in 2024, industry confidence is recovering, with 65.8% of respondents optimistic about 2026, viewing the previous year as a corrective phase.
Studios in the sector are now prioritizing predictable settlement rails and disciplined, revenue-driven operations, moving away from short-term financial engineering amid a cooling market.
Challenges remain in delivering a seamless user experience, as end-to-end UX fragmentation and cross-chain friction complicate stablecoins serving as a universal settlement layer across games.
On the regulatory front, developments in the U.S. and Asia are shaping formal frameworks for stablecoins as jurisdictions establish clearer rules.
Singapore has introduced a formal regime for single-currency stablecoins featuring capital and redemption rules, alongside interoperability trials with local banks.
Japan's Financial Services Agency (FSA) prepared new rules requiring liability reserves for exchanges, eliminating cold-wallet exemptions, aligning regulation with securities firms, and restricting yen-denominated stablecoins to fully backed instruments managed by licensed banks.
Hong Kong has established a licensing system for fiat-referenced issuers, incorporating standards for reserves, security controls, and redemption guarantees.
The UAE issued payment token regulations and granted licenses to major issuers including Circle, Tether, and Binance, reflecting its commitment to robust regulatory approaches.
