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In review: 2025 was a big year for cryptocurrency. Cryptocurrency payment users grew 24.8%, to 4.9 million US adults, per our forecast. Between institutional buy-in and unprecedented support at the highest levels of the US government, the crypto market hit record highs—before plummeting in the final months of the year.
Below, we take a closer look at the defining crypto trends from 2025:
1. The GENIUS Act drives institutional buy-in
Our take: Banks are interested in stablecoins to maintain their payments dominance despite disruptive technologies, making partnerships to build out crypto-friendly infrastructure more essential than ever.
Large retailers—think Walmart, Amazon, Starbucks—may also consider stablecoin-based transactions to avoid interchange fees at checkout. And gig economy staples like DoorDash could embrace stablecoins for faster driver payouts.
2. Payee preference drives crypto payments.
- 35.4% of crypto users paid with cryptocurrency due to the request of the seller, more than any other reason, per a report from the Federal Reserve of Kansas City.
- This finding suggests that cryptocurrency still faces an uphill battle in mainstreaming itself as a payment method rather than an investment asset for consumers.
Our take: Crypto proponents likely want to reverse this sentiment as they build out stablecoin acceptance within their merchant platforms and develop crypto wallets.
However, most consumers are skeptical of cryptocurrency as a payment option, requiring these players to increase incentives for change to happen.
3. Remittances
- Cross-border payments offer the most promising application for cryptocurrency, helping remittance senders avoid fees and sending money to loved ones overseas faster.
- Legacy players like MoneyGram and Western Union have incorporated stablecoins into their remittances businesses, while newcomers like SoFi and Zelle explored crypto-powered cross border payments after the passage of the GENIUS Act.
Our take: Until consumer sentiment shifts on crypto, remittances will dominate stablecoin use cases. Major banking partners like Zelle’s intent to explore cross-border payments threatens to upend legacy players’ market share, maximizing ease by letting users move money right within their banking app.
4. Crypto winter
Our take: Crypto gained mainstream momentum, but its volatility hasn’t changed. For banks and crypto infrastructures, this unpredictability kneecaps efforts to integrate crypto as an accepted currency at the point-of-sale.