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Stablecoins Surge in Real-World Crypto Use: $94B in Payments, 150M Wallets, and Growing B2B Adoption

On May 29, 2025, new research by Artemis, Castle Island Ventures, and Dragonfly showcased the rising real-world impact of crypto-powered stablecoins. The comprehensive study collected insights from 20 stablecoin firms and 11 related companies, highlighting a key truth: stablecoins are no longer a niche — they’re leading the next wave of crypto adoption.

stablecoin

Once a niche concept, stablecoins are now central to global finance and cross-border transactions. These digital assets fuse the benefits of crypto — speed, accessibility, decentralization — with the stability of traditional currencies like the U.S. dollar.

The study revealed that the total supply of them now sits at $239 billion, held across 150 million wallet addresses. From January 2023 to February 2025, more than $94.2 billion in non-trading stablecoin transactions were processed — underscoring their growing use for real-world payments.

At the May 2025 Bitcoin Conference in Las Vegas, it were the unexpected stars, repeatedly mentioned in talks and memes. And for good reason: they’re now at the center of the U.S. Senate’s ongoing bipartisan efforts to regulate the crypto sector, signaling political recognition of their importance.

The research showed clear market leaders: USDT and USDC, which together account for more than $214 billion in market cap. Networks like Tron and Ethereum dominate blockchain infrastructure for these transactions. Payment giants like Visa, Stripe, and Mastercard are also integrating crypto stablecoin services at scale.

The shift from peer-to-peer (P2P) usage to business-to-business (B2B) transactions became evident in mid-2024. As of February 2025:

  • B2B payments hit $3B,
  • P2P stood at $1.5B, and
  • Card-based stablecoin usage surged to $1.1B.

Interestingly, card-based stablecoin transactions — once minimal — now rival P2P payments, showing deeper consumer integration of crypto into daily life.

The U.S. and Singapore top the global usage charts (18% each), with Hong Kong, Japan, the UK, and Germany trailing. In the U.S. Treasury’s own words, if these coins were a nation, they’d be the 14th largest holder of U.S. debt — highlighting their deep integration with traditional finance.

Ultimately, the study concludes that crypto is no longer theoretical. Stablecoins are actively used by millions to send money, run businesses, and power global commerce — and their role is only accelerating.

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