Stablecoin Payment Volume Reaches $94 Billion in B2B Transfers
Global stablecoin payment volume surged to $94 billion in the latest quarter, propelled by a rapid expansion in business-to-business (B2B) transfers and the growing adoption of card-linked payments. According to on-chain analytics firm Chainalysis, B2B flows accounted for nearly 55% of total volume, reflecting a 35% year-over-year increase.
Rise of B2B Transfers
B2B stablecoin transfers are now a cornerstone of cross-border and intra-enterprise settlements. Key drivers include:
- Low latency: Average confirmation times of 2–5 seconds on Layer 2 networks like Arbitrum and Optimism.
- Cost efficiency: Transaction fees under $0.10 on high-throughput chains such as Tron.
- Scalability: 2,000+ TPS capacity on Ethereum’s Dencun upgrade testnets offers new headroom.
Card-Linked Payments on the Rise
Innovations in card-linked stablecoin solutions have made crypto payments more accessible to retailers and consumers. Notable pilots include:
- Mastercard’s USDC integration enabling crypto-backed spending at 30 million merchants.
- Circle’s programmable payment rails offering automated reconciliation via ISO 20022 messages.
- Visa’s stablecoin settlements bridge, now in beta on Ethereum and Polygon.
Tether USDt Maintains Market Dominance
Tether’s USDt remains the largest stablecoin by volume, capturing 60% market share. The protocol’s issuance on multiple chains — including Ethereum, Tron, and Base — underpins daily transaction flows exceeding $50 billion. Meanwhile, USDC market cap stands at $30 billion, with expanding use cases in DeFi collateral and treasury management.
Network Performance and Technical Specifications
Recent network benchmarks highlight:
- Ethereum Layer 2: Dencun’s proto-danksharding reduces calldata costs by 85%.
- Tron Mainnet: Sustained throughput of 2,000 TPS with zero-confirmation finality for trusted counterparts.
- Cross-Chain Bridges: Hop Protocol and Connext enabling sub-30 second cross-chain swaps with under $0.05 fees.
Regulatory Landscape and Future Outlook
Jurisdictions worldwide are enhancing stablecoin frameworks. The EU’s Markets in Crypto-Assets (MiCA) regulation will require issuers to hold 1:1 reserves and undergo annual audits. In the U.S., the Federal Reserve’s discussion paper on a digital dollar underscores rising scrutiny.
Expert Perspectives
“B2B stablecoin rails are transforming enterprise finance by delivering real-time liquidity and programmable compliance,” said Dr. Elena Martin, head of research at DeFi Insights.
With technical upgrades and regulatory clarity on the horizon, stablecoins are set to further permeate global payments, reshaping treasury operations and cross-border trade.