A new report titled Stablecoin Payments from the Ground Up, produced by Artemis in partnership with Castle Island Ventures and Dragonfly, shows a dramatic rise in business-to-business stablecoin payments.
Monthly volumes climbed from below $100 million in early 2023 to over $3 billion by 2025. That marks a 30-fold increase in just two years, based on data from 20 leading fintech firms.
Real-World Transactions Drive Adoption
Daren Guo, Co-Founder of Reap, highlighted how stablecoins have moved beyond niche Web3 circles. He said that stablecoins now offer a credible alternative for global business finance.
Reap contributed detailed transaction data, illustrating use cases like remittances in Asia and cross-border payments in Mexico. According to Guo, firms like Reap are building the seamless, stablecoin-powered infrastructure that businesses need.
Also Read: Senate Democrats Move to Block Presidential Profits from Stablecoins in GENIUS Act Amendment
Key Corridors Emerge
The report maps out the busiest routes for stablecoin flows. Transactions most often start in the United States, Hong Kong SAR, Singapore, Japan and the United Kingdom.
The corridor between Singapore and China stands out as the single most active pair. The frequent appearance of Hong Kong SAR and Singapore confirms their roles as major financial hubs in Asia.
Critics Question Dollar-Pegged Tokens
Not everyone is convinced by the stablecoin trend. American investor Peter Schiff has called USD-pegged stablecoins flawed. He argues that tying tokens to a dollar that steadily loses buying power makes little sense.
Schiff’s remarks came as the GENIUS Act moves closer to final presidential approval, a bill that could tighten oversight of digital assets.
Warnings of “Dark Stablecoins”
Ki Young Ju, CEO of CryptoQuant, raised another concern on social media. He warned that “dark stablecoins” could spring up if governments impose stricter rules on digital currencies.
These shadow tokens might evade regulation, posing fresh risks for both users and regulators.
Regulatory Backdrop
The debate over stablecoins unfolds against a shifting policy landscape. The GENIUS Act, soon to reach the president’s desk, seeks to impose new standards on issuers and trading platforms.
Proponents say it will protect consumers and strengthen market integrity. Critics worry it could stifle innovation and drive activity underground.
While policy discussions continue, businesses keep moving forward with stablecoin solutions. Fast settlement times and lower fees appeal to companies handling regular cross-border transfers.
At the same time, questions about reserve transparency and regulatory compliance remain. Some issuers have faced audits to prove they hold enough backing for every token in circulation.
As stablecoin volumes rise, industry watchers will track both adoption trends and regulatory shifts. The report makes clear that stablecoins are no longer confined to crypto insiders. Businesses worldwide are using them to move money faster and cheaper.
Also Read: Stablecoins Surge $4.78B in One Week, Total Market Value Nears $240 Billion