Stablecoins could lower costs and speed settlement in international trade payments, but divergent national rules have kept their share of international settlements at about 3%, the World Trade Organization said. Cross-border stablecoin payments grew about 35-fold from 2020 to mid-2024, yet only 11 of 28 jurisdictions surveyed by the Financial Stability Board had completed regulatory frameworks. Juan Marchetti, Director of the WTO's Trade in Services and Investment Division, said regulatory convergence, interoperability and financial infrastructure will determine stablecoins' role in trade, particularly for developing countries. Mastercard and Western Union expanded stablecoin payment pilots last month.