Blockchain is no longer a proof of concept and is becoming financial infrastructure by 2025. In the third quarter, traditional institutions quietly crossed the line from testing to building.
Banks, payment networks and cloud providers from SWIFT to Google Cloud to Visa are now leveraging blockchain at scale, reshaping the way global finance moves, settles and stores value, according to a new report.
Q3 2025 will be a turning point for global blockchain integration
The Cryptocurrency x TradFi Community Report for Q3 2025 by Messari highlights how this quarter marked a defining moment in the integration of traditional finance and cryptocurrencies. Leading companies have started using blockchain to streamline operations, reduce transaction costs, and strengthen their market positions.
For example, JPMorgan's Kinexys network currently processes more than $2 billion in transactions every day and has settled more than $1.5 trillion since its launch. In the third quarter, blockchain continued to expand into carbon markets, supply chain finance, and cross-border payments. According to Messari analysts, this move shows that:
“The bank's intention is to make blockchain infrastructure a standard component of institutional payments.”
Meanwhile, SWIFT is developing a shared real-time ledger that connects over 30 global banks. This network operates in parallel with SWIFT's traditional messaging system.
Beyond banking infrastructure, efforts focused on stablecoins also gained momentum in the third quarter. In August, Circle introduced Arc, a new layer-1 blockchain purpose-built for stablecoin finance.
Similarly, Stripe and Paradigm announced Tempo, a payments-first layer 1 blockchain built specifically for stablecoin transactions. Its advisory partners include Deutsche Bank, Visa, Shopify, Revolut, OpenAI, and Standard Chartered.
Meanwhile, Visa rolled out a pilot program that allows selected partners to pre-fund their accounts with stablecoins to accelerate cross-border payments. A wider release is planned for 2026.
Finally, Standard Chartered's Anchor Point joint venture has applied for a stablecoin issuance license under Hong Kong's new regulatory regime.
“The early application of Anchor Point positions Standard Chartered as one of the first multinational banks to pursue direct issuance of stablecoins,” Messari noted.
Tech companies enter the blockchain infrastructure race
While banks and payment companies were building transaction rails, tech giants were laying down the infrastructure to host them in the third quarter. In August, Google Cloud introduced Universal Ledger (GCUL).
It is a neutral layer 1 blockchain designed for banking and capital markets. Early partner CME Group is already testing GCUL for faster collateral settlement and margin optimization.
“GCUL leverages Google's years of distributed systems research to provide a neutral payments network that supports multiple assets, has built-in compliance, and operates 24/7,” the report highlights.
Also last month, Cloudflare announced plans for NET Dollar. Unlike typical stablecoins, NET Dollar is intended for machine-to-machine and AI-driven transactions. These efforts highlight the scale of blockchain adoption in the last quarter.
“Enterprises are no longer experimenting with blockchain, they are building their own chains. The question is not whether institutions will use blockchain infrastructure, but how far they will go and how quickly they will get there,” Messari research analyst Youssef posted.
Research by a16z Crypto confirms this adoption. Companies such as Citigroup, Mastercard, and Visa are currently offering or developing blockchain-powered products to their customers.
Institutions are also increasing their exposure to digital assets. The 2025 EY Institutional Digital Asset Survey found that 86% of institutions currently own or plan to own digital assets, and 59% seek an allocation of more than 5% of assets under management.
In particular, regulatory clarity is accelerating this change. Banks, fintechs, institutions, and regulators are now working together to integrate blockchain into core financial infrastructure, turning what was once an experiment into the new standard of global finance.
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