Main Takeaways

  • Stablecoins have evolved into a key global payments tool, with $94.2 billion in payments settled between January 2023 and February 2025.

  • Business-to-business transactions now represent the largest use case for stablecoins, while card-linked and business-to-consumer payments are also experiencing substantial growth.

  • Platforms like Binance Pay are making stablecoin payments practical and accessible worldwide, supporting instant, fee-free crypto transactions for users and merchants globally.

In recent years, stablecoins have transitioned from a niche segment within the cryptocurrency space to a major player in global payments. Far beyond being merely a tool for crypto traders, stablecoins are increasingly facilitating real-world transactions. With new regulatory clarity, surging adoption, and major milestones like Circle’s public listing on the New York Stock Exchange, stablecoins are no longer a side story in crypto’s epic tale – they’re fast becoming a pillar of the digital economy. Fresh data tell a compelling story of the scale of stablecoins’ momentum, allowing us to look into the future of this asset class with confidence.

The Rise of Stablecoin Payments in Numbers

According to a recent report by data firm Artemis, by May 2025, the overall stablecoin supply has soared to $239 billion, up from just $10 billion only five years ago. There are now over 150 million blockchain addresses holding stablecoins and 10 million addresses transacting daily. Between January 2023 and February 2025, over $94.2 billion worth of stablecoin payments were settled globally.

Business-to-business (B2B) payments now account for an annualized $36 billion, outpacing peer-to-peer ($18 billion), card-linked ($13.2 billion), and business-to-consumer ($3.3 billion) flows – all growing rapidly.

Stablecoin Activity by Type, Jan. 2023 – Feb. 2025. Source: Artemis

The strength of this growth trend is echoed in Deloitte’s findings as the consulting giant calls 2025 “the year of payment stablecoins,” citing a market cap now exceeding $200 billion and a surge in new platforms and use cases beyond crypto trading, including remittances and B2B payments. Deutsche Bank’s May 2025 report estimates that the stablecoin market has grown from $20 billion in 2020 to $246 billion, with Tether’s USDT alone reaching a $153 billion market cap and over 62% of the market share.

Despite slightly varying estimates, these numbers all paint a picture of massive growth in volume and usage over the last several years. What is even more important is the real economic activity behind these numbers: millions of people and businesses around the world increasingly relying on blockchain-powered rails to transfer value efficiently, within and across borders.

Online Payments’ Native Infrastructure

Stablecoins combine the best of both worlds: the relative stability of reference currencies’ prices and the efficiency, transparency, and speed of blockchain technology. This winning combination already addresses many pain points in traditional payment systems, including reliability, reach, and costs.

The blockchains that stablecoins run on give users greater confidence due to their inherent transparency and security, reducing or completely eliminating the likelihood of certain types of fraud schemes and accounting errors. In terms of accessibility, regions where local currencies are unstable or banking infrastructure is limited, stablecoins provide a dependable alternative for storing and moving value. Finally, the cost of transferring value is always a key consideration for any payment tool. According to the World Bank, traditional remittance fees average around 6.65% globally, while stablecoin transfer fees can be as low as 0%.

With these efficiencies, it is unsurprising that major traditional banks and non-crypto fintech players are piloting stablecoin integration projects. This experimentation and institutional adoption has been burgeoning even when regulatory clarity – the key ingredient of broad mainstream adoption – seemed out of reach. Today, regulators and policymakers across many key jurisdictions are catching up with the speed of stablecoins’ expansion, with legislative frameworks setting clearer rules for stablecoins either enacted already (MiCA in the EU) or making their way through the legislative process (GENIUS and STABLE Acts in the United States).

While the growth trend is global, stablecoin adoption patterns differ across regions. The types of stablecoins used, the preferred blockchains, and the main use cases can vary significantly, shaped by local financial infrastructure, currency volatility, and regulatory environments.

Stablecoin Flow By Country, Jan. 2023 – Feb. 2025. Source: Artemis

According to Artemis’ estimates, the United States and Singapore take the lead with almost 20% of the total stablecoin flow each, with Hong Kong, Japan, and the United Kingdom following at 5-10%. The dominant asset and blockchain for stablecoin deployment often reflect local use cases and market needs.

What’s particularly interesting is that stablecoin adoption is propelled by two very different, and almost opposite, forces. On one end of the spectrum, countries with strong financial and regulatory environments, like the U.S., Singapore, and the UK, are embracing stablecoins as part of their innovation-friendly approach to digital finance. On the other hand, adoption is just as strong in places where traditional banking systems fall short, making stablecoins a vital alternative in environments of currency volatility or restricted access to global payments.

Stablecoin adoption, therefore, is not uniform, but shaped by local realities. For example:

  • Latin America & Africa: Tron dominates as the blockchain of choice, with stablecoins used to hedge against inflation and facilitate cross-border business.

  • Asia: Home to the world’s most active corridor for stablecoin flows, the region is deeply integrated into global crypto rails.

  • Europe & North America: While still secondary to domestic payment systems, stablecoins are gaining traction for cross-border B2B and remittance use cases, especially where settlements are needed quickly.

This global patchwork illustrates that while stablecoins are being adopted for different reasons, the impacts of their implementation can be similarly transformative.

A Glimpse Ahead: IPOs and the Agentic Web

As we look to the future, stablecoins appear set to continue gaining momentum. In early June 2025, Circle – the issuer of USDC, the world’s second-largest stablecoin – became the first stablecoin company to go public on the New York Stock Exchange under the ticker $CRCL. Circle’s IPO was a resounding success, with shares tripling on their first day and raising $1.1 billion, signaling strong institutional demand and setting a new standard for transparency and regulatory oversight in the industry. This watershed moment marks a new era of credibility for stablecoins and is expected to pave the way for further listings and broader adoption.

As AI continues to revolutionize information systems and shape new forms of economic activity, stablecoins hold exciting potential beyond human-to-human payments. Imagine AI agents booking complex tours or doing online shopping for you, smart appliances ordering supplies and paying instantly, autonomous vehicles settling tolls and charging fees on the fly. While fiat micropayments in such scenarios would come with friction and significant costs, stablecoins seem like a natural choice for such automated online value transfers.

Binance Pay: Amplifying Stablecoins’ Utility

Regardless of where you are in the world, platforms like Binance Pay allow you to access stablecoin and crypto payments globally. Binance Pay is a contactless, borderless, and secure payment solution built into the world’s largest cryptocurrency exchange. It supports over 300 cryptocurrencies and is accepted by 32,000+ merchants globally. Key features include:

  • Fee-Free Transfers: Send and receive crypto instantly worldwide with zero gas fees.

  • Seamless Merchant Integration: Accept payments online and in-store via QR codes, in-app flows, or payment links.

  • Global Reach: Integrated with local payment systems (e.g., Bhutan via DK Bank, Brazil via Pix), expanding practical use cases.

Binance Pay’s success contributes to the general trend of stablecoins and other digital assets being adopted as payments and settlement infrastructure globally – not just by crypto enthusiasts, but for everyday consumers and businesses. 

Final Thoughts

Stablecoins have progressed beyond their origin as a specialized crypto tool into a meaningful alternative for online payments, especially in regions underserved by legacy finance and for online-first use cases. The numbers speak for themselves: With over $94 billion in settled payments in just five years, stablecoins are proving their value across business, consumer, and peer-to-peer payments worldwide.

Regulatory frameworks are maturing, and the next wave of adoption will depend on making stablecoins as easy and safe to use as today’s best payment apps. If the current trajectory continues, stablecoins could soon be as ubiquitous – and as invisible – as the internet itself.

Explore Binance Pay today and experience the future of payments – borderless, instant, and secure.

Further Reading