Stablecoin transactions in B2B contexts see a staggering 30-fold increase over two years; investigating the factors driving this unprecedented expansion.
In a substantial shift towards digital currencies, the adoption of business-to-business (B2B) stablecoin payments has surged dramatically, leaving behind the traditional consumer-to-consumer (P2P) usage pattern. According to a report by Artemis, crypto analytics firm and venture capital firms Dragonfly and Castle Island Ventures, B2B stablecoin payments expanded from $100 million per month in 2023 to a staggering $3 billion by February 2025, marking an astonishing 30x increase.
Rob Hadick, partner at Dragonfly VC, attributes this rise to increased usage of stablecoins for business payouts. Companies employ stablecoins for supplier payments, treasury management, and payouts, he explained, enabling them to transition into digital transactions for real-world goods and services beyond merely remittances.
For the most part, P2P consumer payments or cross-border stablecoin volumes amounted to about $1.5 billion in February, still trailing behind B2B usage, as per the report. Crypto card-linked volumes ranked third at $1.1 billion. However, despite the slower growth of P2P payments, there is an apparent trend of more users adopting digital dollars for real-world transactions rather than just remittances.
Tether's USDT and Circle's USDC continue to dominate the stablecoin sector, with USDT accounting for 86% and USDC holding 13.9% of the market share, as indicated by the report. In a challenging bid to rival USDT's reign, Circle recently unveiled a stablecoin-powered cross-border payments system, particularly in regions like India, Argentina, and Mexico. Future growth in the sector is forecast to reach nearly $2.8 trillion globally by 2028, spurred on by broader adoption and regulatory clarity.
In the midst of rapid growth, growing concerns about investment exposure in stablecoins persist, as these digital currencies do not appreciate in value like Bitcoin or Solana. Retail investors looking to gain exposure may consider Circle's upcoming initial public offering or Plasma's upcoming XPL tokens. Plasma, a blockchain built for stablecoin support, is backed by heavyweight stakeholders such as Tether’s Paolo Ardoino, Bitfinex, and PayPal’s Peter Thiel.
Despite facing challenges, stablecoin growth continues to outpace traditional payment methods, particularly in cross-border B2B transactions. The potential impact could reshape the global financial landscape, with Tether’s USDT and Circle’s USDC positioning themselves as key players in the shift towards digital currencies in mainstream financial infrastructure.
- Companies are increasingly using stablecoins like Tether's USDT and Circle's USDC for supplier payments, treasury management, and payouts, enabling them to transition into digital transactions for real-world goods and services beyond remittances.
- In a challenging bid to rival USDT's reign, Circle recently unveiled a stablecoin-powered cross-border payments system, focusing on regions like India, Argentina, and Mexico.
- Retail investors looking to gain exposure to stablecoins may consider Circle's upcoming initial public offering or Plasma's upcoming XPL tokens, a blockchain built for stablecoin support backed by heavyweight stakeholders.
- The growth of stablecoin usage, particularly in cross-border B2B transactions, is forecast to reach nearly $2.8 trillion globally by 2028, reshaping the global financial landscape with Tether’s USDT and Circle’s USDC as key players in the shift towards digital currencies in mainstream financial infrastructure.
