Are corporate treasuries warming up to cryptocurrencies?

Deloitte’s Q2 2025 North American Signals survey reveals that nearly 1 in 4 CFOs (23%) anticipate their treasury departments will engage with cryptocurrencies—either as a payment method or investment asset—within the next two years. That number jumps to 39% among finance leaders at companies with annual revenues of US$10 billion or more.

In fact, just 1% of the 200 North American finance chiefs polled—all from firms with at least $1 billion in revenue—said they don’t envision a long-term role for cryptocurrency in business operations.

Momentum is also building from within. Thirty-seven percent of CFOs have already discussed cryptocurrency with their boards, 41% have had conversations with their chief information officers (CIOs), and 34% have engaged with their treasurers, banks, or lenders on the topic. Even more telling: only 2% of survey respondents indicated they have not raised cryptocurrency with any key stakeholders.

Still, enthusiasm for cryptocurrency adoption is not without hesitation. Some CFOs cited concerns—including price volatility, complexities in accounting and internal controls, and a lack of industry regulation—that could hinder adoption. Yet despite these challenges, several respondents expressed a clear willingness to move forward with crypto initiatives.

"CFOs are thinking beyond any 'crypto hype' and focusing on the practical implications of digital assets," stated Steve Gallucci, U.S. and global leader of Deloitte's CFO Program, in a statement included in the release. 

"They appear to be assessing where cryptocurrency can drive efficiency, reduce friction in global operations, and future-proof financial infrastructure. The opportunity isn't just about innovation; it's about making informed, strategic moves that align with enterprise value and control,” he added.

Stablecoins seen by CFOs as the most viable first step into digital currency adoption

Among various cryptocurrency options, CFOs are especially drawn to stablecoins, viewing them as “A practical entry point for the adoption of digital currency,” according to the Deloitte survey.

Fifteen percent of finance executives surveyed expect their organizations to begin accepting stablecoins as payment within two years. That figure climbs to 24% among companies with annual revenues of at least $10 billion.

The survey also sheds light on why stablecoins are gaining traction. Forty-five percent of CFOs cited enhanced protection of customer privacy as a top motivator for adoption, followed by 39% who pointed to improved facilitation of cross-border transactions.

Stablecoin-based payments also offer near-instant settlement for cross-border payments—regardless of time zones, weekends, or holidays. This speed (with faster transactions cited as a benefit by 38% of CFOs) delivers tangible financial advantages: improved cash flow forecasting, reduced counterparty risk, greater traceability, lower requirements for large cash reserves or funds in transit, and faster reinvestment of capital. These benefits make stablecoins “an increasingly attractive proposition,” particularly for corporations with global teams or international suppliers.

Digital assets have witnessed rapid growth, albeit from a small base,” the U.S. Treasury Department noted in its Fiscal Year 2024 Q4 Report. “Growth has come both from native crypto coins like Bitcoin and Ethereum, as well as stablecoins.” The report added: “To date, household and industry adoption of cryptocurrency has been limited to holding digital assets for investment purposes.”

That dynamic may change in 2025. Signs of accelerating adoption—especially for stablecoins—suggest that this could be the year they move beyond niche investment use into mainstream corporate payments.

Most stablecoins are backed by fiat currencies such as the U.S. dollar or the euro, or by commodities like gold. And CFOs surveyed by Deloitte “Envision a raft of potential business uses for non-stable and stable cryptocurrencies—uses beyond investments and payments” in areas such as supply chain management and tracking, hedging against foreign exchange fluctuations, capital raising, and payroll. Taken together, these developments position 2025 as a potential turning point for stablecoins in business transactions.

GENIUS Act introduces safeguards that may spur corporate stablecoin adoption

That turning point may be accelerated by the recent signing of the Guiding and Establishing National Innovation for U.S. Stablecoins Act—or the “GENIUS Act”—into law by U.S. President Donald Trump. The Act establishes the nation’s first federal regulatory framework for payment stablecoins.

While stablecoins remain outside FDIC insurance and are not backed by the U.S. Federal Reserve, the U.S. Department of the Treasury specifies that under the GENIUS Act, they “Must be backed on a 1-to-1 basis by reserves comprising cash, deposits, repurchase agreements, or Treasury bills, notes, or bonds with a remaining maturity of 93 days or less (or money market funds which hold the same assets).”

For risk-averse corporates, such safeguards could remove one of the biggest adoption barriers. When paired with the operational efficiencies and treasury transformation benefits stablecoins can deliver, these regulatory guardrails could pave the way for CFOs to confidently hold stablecoins on their balance sheets in the years ahead.

In conclusion, while cryptocurrency adoption in corporate treasury and finance is still evolving, the momentum is undeniable. CFOs are increasingly moving past the hype to focus on the tangible efficiencies and strategic advantages that digital assets—especially stablecoins—can offer. Regulatory clarity, exemplified by the GENIUS Act, addresses critical concerns around risk and trust, paving the way for broader institutional acceptance.

Challenges remain, including accounting complexities, volatility in non-stable cryptocurrencies, and the need for robust compliance frameworks. However, governments worldwide are actively shaping regulatory environments that balance innovation with protection, fostering a more secure foundation for crypto’s future in business.

With major corporations exploring their own stablecoins, the emergence of AI-powered cryptocurrencies, and growing involvement from financial institutions, 2025 is poised to be a watershed year. Cryptocurrency is transitioning from a niche payment method and investment to a mainstream component of corporate finance and treasury operations. This shift promises to reshape how businesses manage payments, liquidity, and risk — ultimately redefining the future of digital currencies and value exchange in the global economy.

For CFOs and treasurers ready to embrace this change thoughtfully, the path forward is rich with opportunity. The next chapter in digital currency adoption is unfolding — and it’s one where cryptocurrencies could become a vital tool in driving operational excellence and long-term enterprise value.