The 2025 blockchain landscape: Key developments

Unbeknownst to many, thanks to regulatory shifts, stablecoins gaining ground and major institutions building on-chain infrastructure, blockchain is moving from experimental to essential within finance. Below are the developments serving as key contributors in 2025.

Regulatory shifts

The US Federal Reserve has relaxed its 2022 stance, no longer requiring banks to get explicit approval to offer crypto services. Similar signals from the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency show that regulators are starting to treat blockchain as a legitimate tool.

At the same time, SEC Chair Paul Atkins is pushing for clearer, innovation-friendly crypto rules, moving away from vague enforcement tactics and toward a more structured regulatory framework.

Stablecoin stampede

The stablecoin market capitalization has climbed to nearly $240 billion as of late April 2025, brushing up against an all-time high. 

Regulators are also stepping up. In Europe, the Markets in Crypto-Assets (MiCA) framework is now fully live, laying down clear ground rules for crypto assets. For stablecoins, that means strict 1:1 reserve requirements and a crackdown on anything resembling an algorithmic model without real backing. 

Meanwhile, in the US, lawmakers are making moves, too. The STABLE Act, reintroduced in March, proposes tighter oversight over stablecoin issuers and even suggests a two-year freeze on new algorithmic coins. Alongside it, the GENIUS Act aims to set up a whole new licensing system for stablecoins, making issuers meet banking-level standards for reserves, redemption rights and compliance.

The private sector isn’t sitting still either. Coinbase recently waived fees on PayPal’s PYUSD (PYUSD) transactions and now offers seamless USD redemptions. It’s a smart play to make stablecoins more visible in day-to-day finance. 

And the uptake isn’t just happening in the US. In Asia, stablecoins are becoming a go-to for cross-border remittances because they’re faster and cheaper than traditional methods. In Latin America, they’re being used to hedge against local currency collapses; in Brazil, for example, stablecoins now make up over 80% of crypto transactions. 

In different corners of the world, stablecoins are solving very real problems.

Blockchain goes big

Projects like JPMorgan’s Kinexys and Citigroup’s permissioned blockchain platform show that major banks are actively investing in tokenization, digital asset settlement and blockchain infrastructure for global finance.

Did you know? The global blockchain market is projected to reach $162.84 billion by 2027, up from $26.91 billion in 2024.

Blockchain in banking operations

As of 2025, blockchain is helping streamline settlements, tighten compliance, and transform cross-border payments from a headache into a smooth operation. 

Here’s how:

Real-time settlement and clearing

Moving money between banks — especially across borders — used to be a slow, messy process. Layers of intermediaries meant delays, high fees and plenty of room for errors.

By cutting out intermediaries and verifying transactions directly, blockchain enables near-instant settlement, slashing turnaround times dramatically.

In fact, JPMorgan’s Kinexys platform (part of its Onyx suite) now processes over $2 billion in daily transactions, using JPM Coin to settle payments across banks and currencies in real time.

It’s an example of a live system handling serious volume with the help of a blockchain.

Enhanced KYC and AML compliance

Know Your Customer (KYC) and Anti-Money Laundering (AML) checks have always been necessary — but painfully slow and repetitive.

Blockchain offers a smarter way to handle them. A tamper-proof ledger allows banks to securely store and share verified customer information, speeding up audits and reducing compliance headaches.

Another real-world example from JPMorgan is Liink, which runs a blockchain-inspired service called Confirm, which helps banks validate over 2 billion bank accounts across more than 3,500 financial institutions, dramatically improving efficiency for KYC processes.

Cheaper, faster cross-border payments

Sending money internationally used to take days and came with hefty fees.

With blockchain, transactions can settle in minutes, and fees are significantly lower.

Real-world moves:

HSBC and Ant Group: In 2023, they ran real-time HKD-denominated tokenized transactions under the Hong Kong Monetary Authority’s Ensemble Sandbox, giving businesses 24/7 cross-bank transfers.Wells Fargo: Implemented HSBC’s blockchain-based system for foreign exchange settlements, reducing risk and speeding up cross-border FX deals.

Even Deloitte estimates that blockchain could slash cross-border payment costs by 40%-80%, saving the industry up to $24 billion a year.

This all shows that banks are betting real money and real infrastructure on blockchain delivering real value.

Did you know? Visa’s Tokenized Asset Platform (VTAP) allows banks to mint, burn and transfer fiat-backed tokens, such as tokenized deposits and stablecoins.

Considerations for banks

Of course, blockchain isn’t a panacea. There are a few things banks need to keep in mind:

Integration is critical: Blockchain systems have to plug into existing core banking infrastructure. Full rip-and-replace projects aren’t practical (or cheap).Training matters: New systems won’t work if the people running them don’t know how. Banks need to upskill teams across compliance, operations and IT.Customer experience comes first: It’s not just about making internal processes faster — clients need to feel the difference, too.

Behind the scenes, accounting and auditing firms are also finding that blockchain can fix long-standing pain points. That’s what will be explored next.

Blockchain in accounting and auditing

Accounting and auditing might not be flashy headlines, but behind the scenes, blockchain is slowly changing how financial data is managed, verified and reported.

Better data security and fraud prevention

With blockchain, once a transaction is recorded, it can’t be altered without consensus from the network. This built-in immutability drastically reduces the risk of tampering or fraud and strengthens the integrity of financial records.

More transparency = better audits

Auditors no longer need to stitch together fragmented information from multiple systems. Blockchain provides a single, real-time, tamper-proof trail of transactions, making audits faster, more accurate and more reliable.

Streamlined reconciliation and reporting

Blockchain simplifies day-to-day reporting, too. Instead of manually reconciling across different ledgers, authorized parties all have access to a shared, automatically updating record.

Adoption challenges

Of course, it’s not all smooth sailing.

Lack of standardization: There’s still no universal rulebook for blockchain accounting. Groups like the AICPA and the International Accounting Standards Board are issuing early guidance, but without global standards, firms must tread carefully.Integration woes: Most firms still use legacy enterprise resource planning and accounting platforms that weren’t designed for blockchain. Integrating — or deciding when to overhaul — poses serious technical and financial challenges.Regulatory uncertainty: Regulations around digital assets and blockchain-based transactions are evolving fast. Firms must keep their internal controls and reporting practices agile to stay compliant.

Did you know? The concept of triple-entry accounting, enabled by blockchain, adds a third component to traditional double-entry systems.

Blockchain for CFOs and treasurers

In 2025, blockchain is a practical tool for chief financial officers and treasurers looking to sharpen financial reporting, improve operational efficiency, and strengthen risk controls.

Strategic applications

Real-time financial reporting and analysis: Blockchain’s tamper-proof, real-time data streams give CFOs instant access to financial performance. No more waiting for reconciliations — finance teams can forecast and pivot with live numbers at their fingertips.Smart contracts for compliance and transactions: Smart contracts automate routine processes like compliance checks and payment executions, reducing human error and ensuring agreements are enforced exactly as written.Tokenization for capital raising and asset management: Tokenizing assets such as real estate, equipment or equity opens new doors for raising capital and improving liquidity. Fractional ownership models also make it easier to access a broader investor base.

Risk management considerations

While blockchain enhances security overall, it’s not invulnerable. Strong access controls, regular audits and active network monitoring are essential to protect systems and assets. 

Organizations also need contingency plans in place, since blockchain networks can experience outages or latency issues; having off-chain fallback procedures ensures business continuity during disruptions.

Finally, CFOs and treasurers must stay actively engaged, working closely with legal teams and regulators to stay ahead of compliance risks and future-proof their operations.

Best practices for blockchain compliance

If you’re operating — or planning to operate — in blockchain environments, these practices should be at the top of your checklist.

Establish robust internal controls

Managing digital assets safely demands stricter-than-ever internal controls. That means:

Segregation of dutiesRole-based access systemsRigorous transaction validation.

Without these safeguards, the risk of fraud or mismanagement climbs quickly.

Engage with regulators early

Organizations that wait for final rulings often find themselves scrambling. Proactively building relationships with regulatory bodies helps you stay informed and adapt to early guidance.

For example, a licensed Swiss crypto bank, SEBA, engaged early with the Swiss Financial Market Supervisory Authority (FINMA) and became one of the first banks to secure a banking and securities dealer license in 2019. Its proactive compliance approach allowed it to operate both crypto and traditional assets legally in Switzerland.

In addition, the Crypto Valley Association (based in Zug) collaborates regularly with Swiss regulators to shape clear, forward-thinking crypto and blockchain policies. They’ve been instrumental in making Switzerland one of the world’s most crypto-friendly jurisdictions.

Invest in ongoing compliance training

Blockchain regulation is in flux. Regular training ensures your finance and compliance teams are ready to adapt.

Everyone from junior auditors to senior compliance officers needs to stay fluent in blockchain fundamentals, regulatory updates and best practices.

By building these habits into your organization now, you’ll be better equipped in the long term.

Actionable steps for finance professionals

So, blockchain does have real use cases in finance; it is here to stay and needs to be firmly on your radar. 

Here’s how different finance professionals can start making smart, manageable moves today:

For bankers

Focus on practical wins first.

Look for areas where blockchain can immediately improve operations, like speeding up settlements, streamlining compliance processes or making loan servicing more transparent.

Instead of jumping into a full blockchain overhaul, pilot small initiatives in targeted areas like trade finance or cross-border payments. This way, you can measure results with minimal risk.

Also, partnering with fintechs that specialize in blockchain infrastructure can accelerate your learning curve and implementation, letting you tap into blockchain benefits without rebuilding internal systems from scratch.

For CPAs and auditors

Stay current with evolving standards — especially updated AICPA guidance on digital asset accounting and blockchain auditing.

Certified Public Accountants (CPAs) and auditors also need to build technical expertise because auditing blockchain records isn’t the same as auditing traditional ledgers.

You’ll need to understand:

How blockchain structures dataHow verification worksWhat best practices apply to blockchain audit trails.

Moreover, don’t be afraid to advocate for blockchain adoption at your firm — especially when it can boost transparency, lower risk, and strengthen the credibility of financial reporting.

For CFOs and treasurers

 When evaluating blockchain initiatives, look through a financial lens first. Consider:

How blockchain impacts cash flowHow tokenization might affect your balance sheetHow stablecoins or blockchain-based settlements could influence treasury operations.

If tokenization or stablecoin strategies are even on the horizon for your business, they should already be reflected in your three- to five-year strategic plans.

Also, don’t go it alone: Engage with peer networks, industry groups and blockchain-focused finance events. Real-world insights from other CFOs and treasurers can help you spot opportunities and avoid common early-adoption pitfalls.