Blockchain is no longer a proof of concept; it will become a financial infrastructure in 2025. In the third quarter, legacy institutions quietly crossed the line from testing to building.
A new report shows that banks, payment networks and cloud providers – from SWIFT to Google Cloud and Visa – are now using blockchain extensively – reshaping the way global finance moves, settles and stores value.
The third quarter of 2025 will be a turning point for global blockchain integration
Messari Q3 2025’s Crypto x TradFi Community Report highlighted how the quarter became a defining moment in the integration of traditional finance and crypto. Large enterprises began using blockchain to streamline their operations, reduce transaction costs and strengthen their market position.
For example, JPMorgan’s Kinexys network now processes more than $2 billion in daily transactions and has cleared more than $1.5 trillion since launch. In the third quarter, blockchain continued to expand into carbon markets, supply chain finance and cross-border settlements. According to Messari analysts, this move indicated:
“The bank’s intention to make blockchain infrastructure a standard part of institutional settlement.”
Meanwhile, SWIFT is developing a shared real-time ledger that connects more than 30 global banks. The network will function in parallel with SWIFT’s old messaging system.
In addition to banking infrastructure, stablecoin-focused initiatives also gained momentum in the third quarter. In August, Circle introduced Arc, a new Layer-1 blockchain built specifically for stablecoin financing.
Similarly, Stripe and Paradigm unveiled Tempo, a payments-based Layer-1 blockchain built specifically for stablecoin transactions. Advisory partners include Deutsche Bank, Visa, Shopify, Revolut, OpenAI and Standard Chartered.
Meanwhile, Visa has rolled out a pilot program that allows select partners to pre-fund accounts with stablecoins to accelerate cross-border payouts. A wider release is planned for 2026.
Finally, Standard Chartered’s Anchorpoint joint venture has applied for a stablecoin issuance license under Hong Kong’s new regulatory regime.
“Anchorpoint’s early adoption positions Standard Chartered as one of the first multinational banks to pursue direct issuance of stablecoins,” Messari noted.
Tech companies are joining the Blockchain infrastructure race
As banks and payments companies built transaction rails, tech giants built the infrastructure to host them in the third quarter. In August, Google Cloud introduced the Universal Ledger (GCUL).
It is a neutral Layer-1 blockchain designed for banks and capital markets. Early partner CME Group is already testing GCUL for faster collateral settlement and margin optimization.
“GCUL leverages years of Google research into distributed systems to provide a neutral settlement network that supports multiple assets, includes built-in compliance and operates 24/7,” the report highlights.
Additionally, Cloudflare announced plans for NET Dollar last month. Unlike typical stablecoins, NET Dollar is focused on machine-to-machine and AI-driven transactions. These initiatives highlight the scale of blockchain adoption in the past quarter.
“Companies are no longer experimenting with blockchain; they are building their own chains. The question is not whether institutions will use blockchain infrastructure, but rather how far they will go and how quickly they will get there,” said Messari’s research analyst Youssef.
Research by a16z Crypto confirms this adoption. Companies like Citigroup, Mastercard and Visa are now offering or developing blockchain-driven products for customers.
Institutions are also increasing their exposure to digital assets. The EY Institutional Investor Digital Assets Survey 2025 shows that 86% of institutions now own or plan to hold digital assets, with 59% seeking allocations of more than 5% of assets under management.
In particular, greater regulatory clarity is accelerating this shift. Banks, fintechs, institutions and regulators are now lining up to integrate blockchain into core financial infrastructure, turning what were once experiments into the new standard for global finance.
The message Banks and major tech companies finally agree on one thing: Blockchain works for the first time on BeInCrypto.