The Definitive Stablecoin Landscape Series: Asia-Pacific
51.2%
$27.9B
APAC accounts for 51.2% of identified global stablecoin payment volume — $30.9 billion moving across 28 countries — making it the largest regional hub. As use moves beyond trading, the region is becoming a proving ground for regulated payments, treasury and settlement.
The answer changes by market. Singapore is implementing a framework for qualifying stablecoins, Hong Kong has moved into active licensing, and Japan has taken a bank-led approach. At the same time, B2B transfers already account for 37.1% of stablecoin payment volume, meaning invoice settlement, supplier payments and treasury movement now depend on whether a given market grants access, custody and local liquidity.
Produced independently by CoinDesk Research and commissioned by Ripple, The Definitive Stablecoin Landscape Series: Asia-Pacific examines how the region’s stablecoin market is developing. It covers the infrastructure behind stablecoin use, regulation across major APAC markets, the use cases gaining real traction from cross-border settlement to tokenized capital markets, and where a compliance-first digital dollar like RLUSD fits.