North America’s payments market to reach $13.1 trillion by 2032

North America is on the brink of a payments revolution, with cross-border transaction volumes projected to soar to $13.1 trillion by 2032, according to a new report from Money20/20 and FXC Intelligence.

The study, How will North America’s money move in the future? A 2025 view of 2035, launched at Money20/20 USA, paints a vivid picture of how policy, technology and industry collaboration are set to reshape the region’s payments market over the next decade.

Policy, Technology and the Next Trillion-Dollar Shift

US payments market to reach $13.1 trillion

The report forecasts that total cross-border payments across the Americas will climb from $8.8 trillion in 2024 to $13.1 trillion by 2032, driven by regulatory reform, infrastructure modernisation and a surge in stablecoin adoption.

Nearly 97% of industry experts surveyed anticipate at least moderate change to the region’s cross-border payments ecosystem by 2035, with 71% expecting transformation on a significant scale — a higher confidence level than in both Europe and Asia.

“The payments landscape, especially in North America, is undergoing a tremendous shift,” said Micky Tesfaye, Head of Audience Development at Money20/20.

“With the policy green light on stablecoins and the drive for real-time infrastructure from traditional financial institutions, the next decade’s worth of changes and integrations will finally manifest.

The race to capture the $13.1 trillion market is on.”

Stablecoins and Real-Time Rails Take Centre Stage

Optimism for stablecoin integration is strongest in North America, where 59% of respondents view them as critical to the future of payments.

By comparison, only 30% of experts in Asia and 39% in Europe share that view.

Analysts attribute this regional leadership to the recent passage of the GENIUS Act in the US, which has provided long-awaited regulatory clarity around stablecoins.

At the same time, real-time payments have emerged as the highest strategic priority for the region, with 91% of experts identifying them as essential to the next phase of development.

Initiatives such as the FedNow Service in the US and Canada’s forthcoming Real-Time Rail (RTR) upgrade are expected to accelerate adoption and interoperability across borders.

Collaboration, Not Competition

While innovation and competition remain strong, the report underlines that collaboration will be the real driver of progress in the US payments market.

An overwhelming 86% of experts say cross-industry partnerships will be crucial to overcoming infrastructure challenges, while 45% believe future development will be led by a collaboration of players rather than any single sector.

“The data clearly shows the industry is embracing interoperability,” said Daniel Weber, CEO of FXC Intelligence.

“The winners in this new era will be those that master API-driven connections and collaboration to seamlessly integrate traditional, real-time, and stablecoin rails.”

With technology advancing at pace and regulatory frameworks solidifying, North America is emerging as the global epicentre of payments innovation — a region poised not just to grow, but to define how money moves in the digital age.