$3 Trillion Rise in Blockchain Payments Expected by 2025, Fees Drop and Speed ​​Skyrockets

CoinLaw found that RippleNet will process more than $15 billion in cross-border transactions per month in 2025.

Blockchain technology has quickly become a key pillar of global finance, with cross-border payments becoming one of its most fundamental applications, according to a new report from CoinLaw.

The study found that blockchain-based cross-border payments have grown at an annual rate of 45% over the past decade and are expected to reach $3 trillion in 2025.

Blockchain reduces costs and speeds up payments

Average transaction fees on blockchain networks have decreased by 70-80% compared to traditional payment channels, while processing times have been reduced to just 3-10 seconds, compared to the typical 2-5 days of legacy systems. RippleNet alone now processes over $15 billion in cross-border transfers every month.

Meanwhile, more than 120 countries are actively developing central bank digital currencies (CBDCs) to streamline international transactions. CoinLaw also found that nearly 40% of global remittance companies now rely on blockchain solutions. Interestingly, Africa is seeing a 60% increase in adoption rate amid growing demand for affordable and efficient remittance infrastructure.

The study also found that approximately 85% of U.S. banks are testing or fully integrating blockchain-based solutions into their payment systems. The Asia-Pacific region leads the world in this aspect, with 60% of financial institutions using blockchain, followed by 55% in North America and 50% in Europe.

Visa and Mastercard have reportedly processed more than $5 billion in cryptocurrency transactions this year through partnerships with blockchain startups. The report also notes that blockchain-based cross-border payments have grown at an annual rate of 45% and are expected to reach $3 trillion in 2025.

Insurance companies have increased the use of blockchain to 35% to speed up claims processing, up from 18% in 2022. Additionally, banks are saving up to 35% on operational costs by eliminating middlemen and reducing fraud, and the average transaction speed has fallen to 10 minutes from over 10 minutes five years ago.

You might also like:

Inflation Drives Massive Crypto Adoption

El Salvador has seen around 35% of its population use crypto wallets since Bitcoin became legal tender. Nigeria leads peer-to-peer trading activity in Africa, accounting for 45% of the continent’s total crypto transactions.

Meanwhile, Argentina and Turkey saw a 60% increase in adoption this year due to persistent inflation and currency instability.