Stablecoin payment volumes represent a significant, emerging shift in global finance, with recent data revealing approximately $100 billion in annual run-rate payments. This analysis, conducted by Anthony Yim of Artemis in partnership with Castle Island and Dragonfly, utilizes a bottom-up methodology by aggregating sensitive, anonymized data from 31 major payment firms to move beyond speculative top-down estimates. While stablecoin usage currently accounts for less than one basis point of the $145 trillion B2B payment market, it demonstrates 400% year-over-year growth. Tether dominates 90% of payment volume, though regional preferences for other assets like USDC and XRP persist. By functioning as a "starlink for finance," stablecoins provide borderless, instantaneous access to dollar-denominated liquidity, effectively bypassing the inefficiencies of legacy banking nodes for global participants. Future efforts aim to increase data coverage and granularity to further substantiate these real-world use cases.
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