📈 B2B Stablecoin Payments Hit $36B Annually

According to a new survey by Artemis, co-authored with Castle Island and Dragonfly Ventures, business-to-business (B2B) payments are now the fastest-growing segment in stablecoin flows. This marks a significant shift from the traditional focus on peer-to-peer (P2P) transfers. While stablecoins are typically linked with retail and remittances, business transactions are increasingly driving the volume. In the second half of 2024, stablecoins began to cement their role in core financial operations for many businesses. B2B stablecoin volumes soared to over $3 billion by early 2025 from under $100 million monthly in early 2023, translating to an estimated $36 billion annual rate. They are used for various purposes, including vendor payments and cross-border settlements. Nic Carter of Castle Island Ventures highlights small to medium enterprises in emerging markets as key users. Companies like Bitso Business, Conduit, and Yellow Card are emerging to cater to this sector. Stablecoins offer a viable alternative to the costly and slow SWIFT network. P2P transfers remain the second-largest segment, while stablecoin-linked card payments are also growing. Tether’s USDT dominates, followed by Tron as the primary settlement layer, handling about 60% of transactions.