Stablecoins have emerged as a transformative force in global finance, offering near-instant settlement, reduced transaction costs, and programmability that outperforms traditional payment rails like SWIFT and ACH. However, their widespread adoption remains constrained by a critical bottleneck: local on/off ramp facilities—the infrastructure enabling conversion between fiat currencies and stablecoins. This research article, drawing on data from Deutsche Bank’s 2025 report The Stablecoin Plateau – From Disruption to Integration, examines stablecoins’ current market position, key use cases (B2B cross-border payments, remittances, and emerging market financial inclusion), and the disproportionate impact of local on/off ramps on their scalability. It argues that without robust, affordable, and accessible local ramps—especially in emerging markets—stablecoins will fail to realize their potential to disrupt traditional finance or drive financial inclusion.
