A new study by Juniper Research, an expert in the emerging payments space, has found that the value of global stablecoin-powered payment transactions will exceed $187 billion by 2028, up from $53 billion in 2023. Stablecoins in particular have made rapid progress in cross-border markets, the study found, and they are a key way to bypass slow, expensive and difficult-to-trace existing cross-border payment corridors. By 2028, cross-border stablecoin payment transaction volume will account for nearly 73% of the total global stablecoin payment transaction volume; showing the dominance of cross-border use cases. Stablecoins are very effective because they eliminate various stages in the cross-border process, increase the speed of transactions and settlements, and greatly improve traceability. The main hurdle to further growth is acceptance, and the launch of stablecoins requires building and scaling new networks.