Stablecoins Reach 80% of Volume at SCRYPT Amid Institutional Shift

Stablecoins Account for 80% of Processed Volume at SCRYPT – Institutional Gateways Expand On-Chain Settlement

Key Takeaways

• Stablecoins represent around 80% of processed volume at Swiss-licensed digital asset platform SCRYPT.
• SCRYPT serves as TON’s institutional gateway for stablecoins, bridging corporate treasuries and on-chain settlement.
• According to SCRYPT CEO Norman Wooding, institutional adoption accelerated in 2023 as traditional finance recognized on-chain efficiency.
• Wooding describes correspondent banking as fragmented and fee-heavy, positioning stablecoins as a faster alternative for cross-border payments.

Stablecoins Move From Speculation to Payment Infrastructure

For several years, crypto market narratives focused primarily on companies adding Bitcoin to corporate treasuries in anticipation of price appreciation. At the same time, stablecoins developed into a separate segment with a different function: facilitating the movement of money rather than serving as a speculative asset.

Norman Wooding, Founder and CEO of Swiss-licensed digital asset platform SCRYPT, states that stablecoins now account for approximately 80% of the company’s processed and trading volume. He describes this development as gradual rather than sudden, driven by consistent increases in usage over time.

According to Wooding, the turning point for institutional recognition came in 2023. He says larger financial incumbents began acknowledging that on-chain settlement offered operational advantages compared to traditional systems. In his view, this shift occurred after earlier speculative cycles subsided, leaving practical utility as the main driver of activity.

Wooding emphasizes that stablecoins allow users to transfer large amounts of value within seconds and at lower cost compared to traditional cross-border systems. He also points to characteristics such as transparency, auditability, and immutability as core attributes of blockchain-based transfers.

TON Ecosystem and the Role of Institutional Gateways

The Open Network, known as TON, provides part of the infrastructure where this shift is becoming visible. Telegram supports the network as its largest validator and reports a user base nearing one billion. While peer-to-peer transfers are native to the ecosystem, institutional participants such as corporate treasuries and banks require regulated intermediaries to access on-chain settlement.

SCRYPT has been selected as TON’s institutional gateway for stablecoins. In this role, the company provides a regulated bridge between traditional financial institutions and blockchain-based transactions. This includes handling compliance requirements, liquidity management, and foreign exchange conversion when funds move between jurisdictions.

For users evaluating crypto payment rails, this type of gateway determines how easily fiat-linked digital assets can move between on-chain environments and traditional banking systems. Institutional gateways also influence which stablecoins and networks are accessible under specific regulatory frameworks.

Cross-Border Payments and the Limits of Correspondent Banking

Wooding describes the existing correspondent banking model as fragmented and dependent on multiple intermediaries. He uses the example of a business sending a wire transfer from the United Kingdom to Brazil on a Friday afternoon. In such a scenario, several intermediaries may review and process the transaction, each potentially adding fees and foreign exchange spreads.

According to Wooding, businesses often face transaction fees, foreign exchange costs, and additional compliance-related charges. He argues that the structure of correspondent banking enables intermediaries to maintain relatively high fee levels because of limited transparency and limited competition within certain corridors.

Stablecoin-based settlement, by contrast, can reduce the number of intermediaries involved. Wooding states that this enables near-instant transfers, with back-end processes such as compliance and local currency conversion handled within a more integrated framework.

For international users and companies operating across jurisdictions, settlement speed and predictability directly affect liquidity management. In sectors where timing and cross-border flows are critical, payment infrastructure influences operational efficiency.

Regulatory Fragmentation Shapes Market Development

Wooding identifies regulatory clarity as a central requirement for institutional adoption. He contrasts Switzerland’s approach with that of the United Kingdom. According to him, Switzerland’s Financial Market Supervisory Authority offers a proactive framework that enables licensed entities to operate with defined parameters.

By comparison, Wooding says that the UK has not delivered on earlier ambitions to position itself as a global crypto hub. He describes uncertainty and delayed execution as obstacles for companies seeking long-term planning stability.

He also points to ongoing challenges within the European Union’s Markets in Crypto-Assets framework, stating that differences in supervision between member states can create inconsistencies even under a shared regulatory template.

For platforms, operators, and payment providers, regulatory alignment determines where licenses are obtained and where services can be offered. Fragmentation can lead to jurisdiction shopping, while clearer frameworks may attract infrastructure providers and institutional participants.

Automation and On-Chain Finance as a Structural Shift

Looking ahead, Wooding describes a scenario in which financial processes are increasingly automated and managed by artificial intelligence systems operating on-chain. While he notes that fully autonomous agentic payments still require strict oversight to prevent computational errors, he expects broader migration of financial functions to blockchain networks.

He further argues that technological efficiency, particularly through artificial intelligence, could alter macroeconomic dynamics by increasing productivity. In this context, he suggests that traditional debates around digital assets as inflation hedges may evolve as economic output changes.

These comments reflect how infrastructure providers view the intersection of blockchain settlement, automation, and institutional finance. The emphasis remains on operational efficiency, transparency, and integration with regulated environments.

Our Assessment

SCRYPT reports that stablecoins now account for around 80% of its processed volume, indicating a shift from speculative trading toward payment and settlement use cases within its platform. As TON’s institutional gateway, the company connects regulated financial entities with on-chain infrastructure. According to CEO Norman Wooding, institutional engagement accelerated in 2023, driven by efficiency gains in cross-border transfers and dissatisfaction with correspondent banking structures. At the same time, regulatory fragmentation across jurisdictions continues to shape where and how stablecoin infrastructure develops. Together, these factors illustrate how stablecoins are being positioned as operational payment rails within regulated digital asset markets.