Global stablecoin payment volumes are surging, driven by increased business adoption seeking faster transactions and boosted by recent U.S. regulatory clarity for digital assets. The monthly volume of stablecoins used for real-world payments jumped from $6 billion in February to more than $10 billion in August.
Data from blockchain analytics provider Artemis indicates that business-to-business (B2B) transfers now constitute the largest portion of this activity. These corporate payments reached $6.4 billion monthly, marking a 113% increase since February. This growth has allowed B2B transactions to surpass consumer peer-to-peer (P2P) transfers for the first time.
Businesses are increasingly turning to stablecoins to avoid the delays and complexities inherent in the traditional international banking system. Payments often pass through multiple correspondent banks, causing friction and extended waiting times. The average stablecoin payment for businesses is around $250,000, underscoring the value placed on speed and certainty of immediate arrival.
New U.S. legislation, enacted on July 18, is seen as a key catalyst for this acceleration. The federal framework for stablecoin issuers mandates that these digital tokens be backed by highly liquid assets, such as U.S. Treasury bills. This regulatory clarity has reportedly reduced legal uncertainty and boosted market confidence, potentially opening doors for broader institutional adoption. Andrew Van Aken, a data scientist at Artemis, noted an inflection in the stablecoin supply curve following the approval of the new rules.
Traditional financial players are also taking notice. Zelle, a payment service owned by several major banks, plans to integrate stablecoins to facilitate international transfers. This move reflects a growing recognition among established providers of the need to incorporate cryptocurrency rails to compete on speed and cost.
While the adoption rate has increased by over 70% since the new regulation, the stablecoin payment ecosystem remains a fraction of traditional payment systems. Artemis projects that at the current pace, annual stablecoin payments could reach $122 billion.
However, questions persist regarding interoperability between different stablecoin platforms, the custody of reserves, and the prudential supervision of stablecoin issuers. A stablecoin is a digital token whose value is typically pegged to a fiat currency, most commonly the U.S. dollar, serving as a medium of exchange and a temporary store of value.