(13 January 2026 – Germany) Stablecoins promise a revolution in international payments yet how realistic is their use in treasury? Deutsche Bank’s Christof Hofmann examines the current status and hurdles for flow Cash Management.
Global corporates are increasingly demanding 24/7, always-on, instant settlement. Corporate treasurers are a core part of that demand. For stable digital funds to make economic and operational sense, treasurers are primarily focused on speed and yield, regulatory and compliance certainty and streamlined integration into Treasury Management Systems (TMS).
Stablecoins clearly solve for speed, given their bearer nature and real-time settlement however gaps lie elsewhere across bank deposit linked liquidity, on-ramp and off-ramp pain points, lack of TMS integration and yield requiring additional risk-taking.
“Although Swift reports that up to 90 percent of payments are processed within an hour, there can often be delays in the final credit to the end customer. Blockchain-based payment platforms such as Partior, the Agorá project of the Bank for International Settlements, or Swift’s blockchain initiative are working to make transfers of bank deposits more efficient across borders and multiple banks” commented Deutsche Bank Global Head of Cash Management, Christof Hofmann.
“Despite their potential, the use of stablecoins in payments is still in its early stages. The fact that stablecoins are rarely used for corporate payments so far is mainly due to a lack of market infrastructure. Users still hold their liquidity primarily in traditional bank deposits. To use stablecoins, treasurers must first convert their bank deposits into stablecoins” Hofmann added.
“To make stablecoins widely usable for payments, bank and corporate compliant infrastructures must be established. Some banks already offer regulated crypto custody and transfer solutions and are working on both on-ramping and off-ramping services. Banks will therefore play a critical role in combining the potential of stablecoins with established treasury processes and compliance requirements in payment transactions” Hofmann said.
“Tokenized bank deposits will be the default money movement option for large corporates. Why? Tokenized bank deposits and institutional-grade tokenized MMFs resolve these constraints by delivering 24/7, always-on, instant settlement while preserving regulatory certainty and operating natively within the treasury workflows corporates already rely on. For example, JPMorgan’s integration with Kyriba” stated Tokenization Insight Founder, Harvey Li.