Report: Businesses Dominate Stablecoin Volume

Stablecoins are increasingly being used for business payments, emerging as one of the fastest-growing applications for digital assets, according to new data released by crypto exchange and payments provider Paybis.

The company reported that business clients accounted for nearly 98% of all stablecoin payout volume processed on its platform during the first four months of 2026. By comparison, business-related activity represented just 36% of payout volume in 2023. Paybis also referenced research from McKinsey estimating that global stablecoin payment volume reached approximately $390 billion in 2025, with business-to-business (B2B) transactions responsible for around 60% of the total.

The growing trend is also reflected in Paybis’ own platform activity. Stablecoins represented 86% of all crypto transaction volume in April, a sharp increase from just 12% recorded in July 2023.

Digital goods and fintech lead stablecoin usage

According to the report, the largest contributors to B2B stablecoin activity over the past two years were companies operating in digital goods, virtual assets, technology, retail and e-commerce, and financial technology sectors. Together, these industries accounted for more than 78% of all business-related stablecoin volume processed through the platform.

The study also found growing interest among companies that have not yet adopted stablecoins. Approximately 22.5% of surveyed businesses stated that they either already use stablecoins for international payments or plan to implement them within the next 12 months.

Interestingly, many businesses continue to overestimate both the cost and speed of stablecoin transactions. While transfers generally settle within seconds or minutes depending on the blockchain network used, nearly half of survey respondents believed transactions could take anywhere from one hour to an entire day.

Similarly, about one-third of respondents expected stablecoin payment fees to average around 3%. A Paybis spokesperson noted that real-world stablecoin payment costs are typically below 1%, although final costs vary depending on factors such as blockchain networks, payment providers, on- and off-ramp fees, and foreign exchange spreads.

Stablecoin market continues to expand

The broader stablecoin market has continued to grow alongside rising adoption among businesses and financial institutions. According to DefiLlama data, total stablecoin market capitalization has reached approximately $319.5 billion, up significantly from around $247.3 billion one year earlier. Tether’s USDT remains the largest stablecoin in circulation, accounting for nearly 59% of the market. Circle’s USDC holds the second position with a market capitalization of roughly $76 billion.

The sector's expansion has also encouraged the launch of new payment-focused stablecoins. Last week, Falcon Finance introduced the institutional-oriented fUSD stablecoin through Anchorage Digital’s regulated issuance platform. Around the same time, SoFi launched SoFiUSD for its banking customers through its mobile application.

More recently, MoneyGram unveiled MGUSD on the Stellar network, targeting cross-border payments and digital-dollar balances. The stablecoin is issued by Bridge, Stripe’s stablecoin platform, and is integrated into the MoneyGram application through a self-custodial wallet.

The latest developments highlight how stablecoins are increasingly evolving from trading tools into payment infrastructure for businesses, financial institutions and global money transfers.

Sources:

https://cointelegraph.com/news/business-payments-drive-98-of-paybis-stablecoin-volume-in-2026

https://defillama.com/stablecoins