Crypto and Stablecoins: A CFO’s Perspective

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Middle market CFOs aren’t ignoring digital assets, but they’re not exactly embracing them, either. This PYMNTS Intelligence data book shows that stablecoins are drawing more interest than cryptocurrencies, especially for payments, yet adoption remains limited. Most firms are waiting for clearer rules, bank-backed access and systems that integrate with their existing finance operations before they move forward.

CFO Adoption of Crypto and Stablecoins

Stablecoins are getting more attention than crypto, but actual usage is still low.

More than four in 10 (42%) middle market companies have at least discussed, tested or used stablecoins, compared with 30% for cryptocurrencies. Even so, only 13% report actual stablecoin use, while just 5% report live crypto use. That makes stablecoins more visible, but still far from standard practice.

Stablecoin interest rises when firms feel more in control of operations.

Among middle market firms with high uncertainty about the business environment, macroeconomic conditions and consumer demand, 55% report decreased interest in both crypto and stablecoins. Among low-uncertainty firms, 39% report increased interest in stablecoins, versus 16% reporting decreased interest. The pattern is clear: Firms explore new payment tools when they feel more secure in the core business.

Firms that use stablecoins prefer bank-connected access over going direct.

Roughly one in eight (12%) middle market companies access stablecoins through bank-integrated solutions, compared with 8% through a payments or treasury FinTech and 5% through self-custody wallets. This suggests that even when firms experiment, they prefer familiar channels with more oversight and less operational strain.

Regulatory uncertainty is the biggest obstacle to the adoption of crypto and stablecoin.

More than three in four CFOs (77%) cite regulatory or compliance uncertainty as a barrier for crypto, and 67% say the same for stablecoins. The next issues are practical ones: Forty percent cite integration with existing financial systems for crypto, and 43% say the same about stablecoins. The issue centers on whether these tools fit inside real finance workflows.

Firms that receive digital assets usually convert them to dollars right away.

All firms receiving crypto payments convert them to U.S. dollars immediately. For stablecoins, 88% do this. This shows that firms are using digital assets mainly as payment rails, not as assets they want to hold on the balance sheet.

Methodology

“Stablecoins Gain Ground: Why CFOs See More Promise There Than in Crypto” is based on findings from the March 2026 edition of The Certainty Project, a PYMNTS Intelligence exclusive series. PYMNTS Intelligence surveyed 60 CFOs at U.S. companies with annual revenues between $100 million and $1 billion from Jan. 13, 2026, to Jan. 21, 2026.

About

PYMNTS Intelligence is a leading global data and analytics platform that uses proprietary data and methods to provide actionable insights on what’s now and what’s next in payments, commerce and the digital economy. Its team of data scientists includes leading economists, econometricians, survey experts, financial analysts and marketing scientists with deep experience in the application of data to the issues that define the future of the digital transformation of the global economy. This multi-lingual team has conducted original data collection and analysis in more than three dozen global markets for some of the world’s leading publicly traded and privately held firms.

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