The Bank for International Settlements (BIS) and International Monetary Fund (IMF) have identified the agentic economy as the next major financial revolution, with institutional leaders now prioritizing its development over traditional payment systems. According to recent industry analysis, the elements of the operating layer for the agentic economy are no longer a future problem - they're the work of the next two to four quarters. The agentic economy extends beyond payments into treasury, capital markets, programmable value exchange, and machine-to-machine coordination operating inside regulatory boundaries. As reported by industry experts, while the honest answer to 'are we behind on agentic payments?' is no, the bigger question should be 'are we behind on the agentic economy?' - and the answer there is most likely yes. This represents a fundamental shift from traditional financial systems to a decentralized, agent-driven economic framework that will transform how organizations interact with digital assets and automated financial processes.
US regulators failed to finalize stablecoin regulations under the GENIUS Act before the July 18 deadline, leaving issuers without clear compliance timelines and extending a period of regulatory uncertainty that has been building for months. According to Paybis Crypto Weekly Digest #56, the missed deadline means every stablecoin issuer now has to make compliance decisions without knowing what the final rules look like, creating a real operational problem for companies that need to plan infrastructure, legal structure, and capital reserves around regulations that keep moving. The GENIUS Act was supposed to draw a clear line, but missing the deadline does not mean nothing changes - it means the regulatory framework remains unclear, creating uncertainty for the growing stablecoin market.
According to the Bank for International Settlements (BIS) Annual Economic Report 2026, dollar-backed stablecoin inflows across more than 130 economies are driving a new wave of 'digital dollarization' that effectively bypasses traditional government capital controls. The study reveals that stablecoins operate largely outside the regulatory perimeter, making them a resilient alternative for users seeking to exit volatile local currencies during periods of financial stress. Unlike foreign-currency bank deposits, which are subject to national regulations and oversight, stablecoin flows appear largely immune to foreign exchange restrictions, particularly in developing economies facing macroeconomic instability. The research highlights a growing disconnect between traditional monetary policy and the decentralized digital asset market, introducing a layer of 'partial dollarization' that does not rely on the physical presence of U.S. banknotes or cooperation of local commercial banks.
Visa launched a new platform that allows banks and fintechs to issue and manage the Open USD stablecoin, making it available across Visa's global merchant network of more than 200 million businesses. As reported by Paybis Crypto Weekly Digest #56, Visa's merchant network is one of the largest financial distribution systems on earth, and when stablecoins plug into that network, they stop being a crypto product and start being a payment method at the checkout counter. This scale reaches levels that no crypto-native stablecoin project has ever come close to achieving on its own. The platform provides banks and fintechs with tools to issue the Open USD stablecoin, potentially accelerating the mainstream adoption of stablecoins beyond traditional crypto-native applications.
The BIS study found that Nigeria and Latin America show growing stablecoin use for remittances, trade settlement and cross-border payments. According to the International Monetary Fund, stablecoins accounted for more than 65% of Nigeria's cross-border crypto inflows in 2024, with total inflows approaching the value of recorded remittances by 2025. Nigerian households use USDT and USDC for family remittances, crypto investments and access to dollar-denominated value, while small and medium-sized importers have used tokens to pay foreign suppliers. Bitso Business reported an 81% year-over-year increase in stablecoin payment volume during the first half of 2026, with Tether's USDT and Circle's USDC representing 40% of regional crypto purchases in 2025, overtaking Bitcoin for the first time. The IMF noted that stablecoins have reduced the cost and time required to move money across borders while expanding access to financial services for users outside the traditional banking system, though these digital tools simultaneously shift economic activity away from conventional, regulated banking channels.
A new BIS working paper published on July 21 by authors Boris Hofmann, Aaron Mehrotra and Jan Paulick reveals that foreign exchange-related restrictions appear to have little effect on dollarisation resulting from stablecoin adoption. The study notes that the market capitalisation of stablecoins has nearly tripled since 2023, with the authors observing that capital controls have historically reduced some forms of deposit dollarization because banks must enforce domestic rules, but stablecoin inflows were broadly similar in economies with and without such restrictions. Meanwhile, roughly 90% of crypto firms that previously operated in the European Union have exited the market, restructured, or fallen out of compliance since MiCA's transition period officially ended. As reported by Paybis Crypto Weekly Digest #56, MiCA was designed to create a clear legal framework for crypto in Europe, but the compliance burden has pushed out the vast majority of operators, with smaller companies and new entrants mostly leaving while larger firms with resources to absorb costs remain.
