Stablecoin Settlement Statistics 2026: 41 Verified B2B Figures

Updated October 2026. Every figure on this page was checked against its source in October 2026.

B2B payments are the largest use of stablecoins for real payments: about $226 billion in 2025, up 733% year over year, according to McKinsey, using Artemis Analytics data. Settlement networks are growing with them, and Visa's stablecoin settlement passed a $20 billion annualized run rate in September 2026. Stablecoins still carry significantly less than 1% of non-wholesale cross-border flows, according to FXC Intelligence.

Key statistics

• B2B stablecoin payments reached about $226 billion in 2025, up 733% year over year, according to McKinsey, using Artemis Analytics data.
• Average B2B stablecoin transfers on Tron and Ethereum each exceeded $219,000 in the Artemis Analytics study of 33 payment firms (October 2025).
• Only 2.2% of B2B cross-border payments under $100,000 were credited within one hour in 2025, and 39.6% within one business day, according to the Financial Stability Board.
• Foreign exchange made up 87.1% of the 1.6% average cost of a B2B cross-border payment in 2025, per the FSB.
• FXC Intelligence puts the base B2B stablecoin cross-border opportunity at $14.7 trillion, based on 2025 market sizing.
• 62% of current stablecoin users pay suppliers across borders with stablecoins, according to the EY-Parthenon June 2025 survey.
• Only 1% of US corporate treasury teams were piloting or using stablecoins in March 2026, according to the AFP.
• Visa's stablecoin settlement volume passed a $20 billion annualized run rate in September 2026, up more than 15 times year over year.
• The Circle Payments Network reached $14.7 billion in annualized volume with 175 financial institutions enrolled at the end of Q2 2026.
• Stablecoins accounted for 81% of OTC trades on Finery Markets in H1 2026, an all-time high.

How much B2B volume settles in stablecoins?

B2B payments are the largest category of real stablecoin payments, and single transfers are large. Total stablecoin volume, supply and consumer payment figures are on our stablecoin payment statistics page.

1. B2B stablecoin payments reached about $226 billion in 2025, up 733%

B2B payments accounted for about $226 billion of stablecoin payment volume, based on annualized December 2025 data, and grew 733% year over year, according to a February 2026 McKinsey analysis of Artemis Analytics data. That makes B2B the largest single use of stablecoins for real payments.

2. Stripe estimates 60% of about $400 billion in 2025 stablecoin payments were B2B

Stablecoin payments volume doubled to around $400 billion in 2025, and 60% of it is estimated to represent B2B payments, according to Stripe's 2025 annual letter, published in February 2026. The estimate is in line with the B2B share in the McKinsey analysis above.

3. B2B payments ran at a $76 billion annualized rate in August 2025 across 33 payment firms

Among 33 stablecoin payment companies studied by Artemis Analytics, Castle Island and Dragonfly, B2B payments annualized at $76 billion in August 2025, the largest category, followed by P2P at a $19 billion run rate. The firms in the sample do not cover the whole sector, the report notes.

4. Monthly B2B stablecoin volume grew from under $100 million to over $6.0 billion

Aggregate B2B stablecoin volume among firms in the Artemis Analytics study grew from under $100 million a month at the start of 2023 to over $6.0 billion a month by mid-2025. The report links the rise to vendor payments, supplier invoicing and collateral transfers.

5. The average B2B stablecoin transfer on Tron and Ethereum exceeds $219,000

Average B2B transaction sizes on Tron and Ethereum each exceeded $219,000 among firms in the Artemis Analytics study (data through August 2025), while BSC and Polygon carried smaller, higher-frequency transfers. At that size, each public transfer shows counterparties a material slice of a company's payables.

6. USDC averaged about 30% of monthly B2B stablecoin volume

USDT remained the main stablecoin for B2B transfers among firms in the Artemis Analytics study, while USDC averaged around 30% of monthly B2B volume. A B2B payout setup that supports only one of the two tokens misses part of this flow.

Cross-border payments: cost, speed and corridors

Traditional B2B cross-border payments are slow, and most of their cost sits in foreign exchange. Stablecoins still carry a small share of these flows.

7. Only 2.2% of B2B cross-border payments are credited within one hour

In the Financial Stability Board's 2025 progress report on the G20 cross-border payments targets, 2.2% of B2B cross-border payments in the retail segment (payments under $100,000) were credited within one hour of initiation, based on FXC Intelligence data as of March 2025.

8. 39.6% of B2B cross-border payments are credited within one business day

The same FSB report found that 39.6% of B2B cross-border payments in the retail segment were credited within one business day in 2025. The share was 43.2% a year earlier. The remaining 60.4% took longer than one business day.

9. B2B cross-border payments cost an average of 1.6%

The average cost of B2B cross-border payments for small and medium-sized businesses was 1.6% of the amount sent in 2025, according to the Financial Stability Board (FXC Intelligence data as of March 2025). The cost did not change from the year before.

10. Foreign exchange makes up 87.1% of the cost of a B2B cross-border payment

FX costs averaged 1.4% and fees 0.2% on B2B cross-border payments, so FX made up 87.1% of the total average cost in 2025, per the FSB. A low wire fee can hide most of what a supplier payment abroad costs.

11. 54.6% of wholesale cross-border payments are credited within one hour

For wholesale cross-border payments of $100,000 or more, 54.6% were credited within one hour of initiation and 93.2% within one business day in 2025, based on Swift data in the FSB report. Even at that size, 45.4% took longer than an hour.

12. FXC Intelligence sizes the B2B stablecoin cross-border opportunity at $14.7 trillion

FXC Intelligence puts the base total addressable market for B2B stablecoin cross-border payments at $14.7 trillion, with an upside case of $20.4 trillion, using its 2025 market sizing data (published February 2026). B2B is the largest segment of its $17.9 trillion base TAM for non-wholesale stablecoin cross-border payments.

13. Stablecoins carry significantly less than 1% of non-wholesale cross-border flows

FXC Intelligence assesses the share of cross-border payments delivered with stablecoins at significantly less than 1% of total non-wholesale flows, despite strong growth in 2025.

14. Most surveyed firms expect stablecoins to carry 5% to 10% of cross-border payments by 2030

Most respondents to the EY-Parthenon survey of 350 corporate and financial services executives (June 2025) expect 5% to 10% of cross-border payments to be made with stablecoins by 2030, equal to $2.1 trillion to $4.2 trillion per EY-Parthenon estimates. The figure is a forecast.

15. Singapore to China is the most active stablecoin corridor, and the next seven all involve the US

Among firms in the Artemis Analytics study, the Singapore to China corridor was the most active for stablecoin flows, and the next seven largest corridors all involved the United States. Singapore and Hong Kong appeared often as regional hubs.

How many companies use stablecoins for business payments?

Surveys show wide interest and narrow live use. Among companies that already use stablecoins, paying suppliers abroad leads. For the treasury side of a supplier payment, see how to pay vendors in stablecoins without exposing your treasury balance.

16. 13% of financial institutions and corporates use stablecoins

Stablecoins are used by 13% of financial institutions and corporates globally, according to the EY-Parthenon survey of 350 executives conducted in June 2025.

17. 54% of non-users expect to adopt stablecoins within 6 to 12 months

Of organizations not using stablecoins, 54% expect to adopt them in the next 6 to 12 months, per the same EY-Parthenon survey (June 2025).

18. 70% of financial institutions and 55% of corporates using stablecoins name cross-border payments as the top use case

Among respondents that have used stablecoins, 70% of financial institutions and 55% of corporates name cross-border payments as their top use case, according to EY-Parthenon (June 2025 survey).

19. 62% of stablecoin users pay suppliers across borders with them

Among current stablecoin users in the EY-Parthenon report (survey fielded June 2025, published September 2025), 62% use stablecoins to pay suppliers across borders and 53% accept cross-border payments from business partners. B2B uses lead, the report says.

20. 41% of organizations using stablecoins report cost savings of at least 10%

Among organizations using stablecoins, 41% reported cost savings of at least 10%, mainly in B2B cross-border payments in USD-denominated stablecoins, according to EY-Parthenon (June 2025 survey).

21. 56% of corporates want stablecoin access through embedded APIs in their treasury platforms

Most corporates in the EY-Parthenon report (56%) prefer embedded APIs within existing treasury platforms, and about 70% would be more willing to adopt stablecoins with ERP integrations (June 2025 survey). Finance teams want stablecoin settlement inside the systems they already run.

22. 60% would pay in stablecoins if at least 20% of their vendors accepted them

Sixty percent of respondents to the EY-Parthenon survey would consider using stablecoins for payments if at least 20% of their vendors accepted them, while only 8% of corporates currently support accepting stablecoin payments (June 2025).

23. 42% of middle-market companies have discussed, tested or used stablecoins

Forty-two percent of middle-market companies have discussed, tested or used stablecoins, compared with 30% for cryptocurrencies, according to PYMNTS Intelligence data published in March 2026. Actual use was lower, at 13%.

24. 88% of firms that receive stablecoin payments convert them to dollars immediately

Among firms receiving stablecoin payments, 88% convert them immediately into US dollars, per the same PYMNTS Intelligence data (March 2026). PYMNTS reads this as companies using stablecoins as payment rails, not as a store of value.

25. 1% of US corporate treasury teams are piloting or using stablecoins

In the 2026 AFP Liquidity Survey of 309 US treasury professionals, conducted in March 2026, only 1% of organizations were piloting or using stablecoins in a limited capacity, and 9% were actively exploring them. Treasury teams are waiting for pending regulations, the AFP reports.

26. Over 90% of US fintech decision-makers want stablecoins for cross-border payments, and 16% have gone live

Over 90% of more than 400 US financial technology decision-makers surveyed by Paxos are interested in using stablecoins for cross-border money movement, and only 16% have launched a live solution (report published September 2025).

27. Half of companies are interested in digital assets for treasury, and 5% are live

Half of the companies in the same Paxos survey are interested in using digital assets for corporate treasury, and 5% are currently live (September 2025).

28. 48% of surveyed banks and payment providers name faster settlement as the top stablecoin benefit

Faster settlement was the most cited stablecoin benefit at 48%, ahead of improved liquidity (33%) and integrated flows (33%), in the Fireblocks State of Stablecoins 2025 survey of 295 banks, payment providers and crypto firms, conducted in March 2025.

Which settlement networks and providers are scaling?

Card networks, stablecoin issuers and payment providers reported fast growth in stablecoin settlement through 2026. More data on processors is in our crypto PSP statistics.

29. Visa's stablecoin settlement volume passed a $20 billion annualized run rate

Visa said in September 2026 that its stablecoin settlement volume had recently surpassed a $20 billion annualized run rate, up more than 15 times year over year. More than 160 stablecoin-linked card programs operate on its network.

30. Visa's stablecoin settlement pilot supports nine blockchains

As of April 2026, Visa's stablecoin settlement pilot supported nine blockchains (Arc, Avalanche, Base, Canton, Ethereum, Polygon, Solana, Stellar and Tempo) at a $7 billion annualized run rate, up 50% from the prior quarter.

31. Circle Payments Network reached $14.7 billion in annualized volume with 175 financial institutions

Circle reported that the Circle Payments Network (CPN) reached $14.7 billion in annualized transaction volume, measured over the trailing 30 days at the end of Q2 2026, up 76% quarter over quarter, with 175 financial institutions enrolled.

32. Payment providers and fintechs make up 75% of BVNK's $36 billion annualized volume

BVNK reported in July 2026 that it processes more than $36 billion in annualized stablecoin payment volume, with payment service providers and fintechs accounting for 75% of platform volume, ahead of retail trading firms.

33. Half of BVNK's stablecoin transactions happen outside banking hours

Half of all transactions on BVNK now take place outside standard banking hours, and after-hours volume grew from 24% to 31% of platform volume year on year (July 2026 data release). Those payments fall outside the hours when bank wire systems process transfers.

34. 79% of financial institutions plan to use third-party providers for stablecoin infrastructure

To build stablecoin infrastructure, 79% of financial institutions plan to use third-party providers and 73% intend to partner for licensing, according to EY-Parthenon (June 2025 survey). Only 5% plan to build all stablecoin capabilities themselves.

OTC desks and block trades

Institutional OTC desks now settle most trades in stablecoins, and OTC kept growing in 2026 while exchange volumes fell.

35. Institutional spot OTC volume grew 109% in 2025, against 9% for the top 20 exchanges

Institutional spot OTC volumes expanded 109% year over year in 2025, while the top 20 centralized exchanges grew 9%, according to the Finery Markets Crypto OTC Trading Report 2026, based on execution data from more than 150 institutional participants in 40 countries.

36. OTC volume rose 76% in H1 2026 while exchange volumes fell

OTC was the only growing segment in the first half of 2026, up 76% year over year, while centralized exchange volume fell 38% and DEX volume fell 13%, according to Finery Markets proprietary data published in July 2026.

37. Stablecoins accounted for 81% of OTC trades in H1 2026

Stablecoins' share reached an all-time high of 81% of total OTC trades in H1 2026, according to Finery Markets. Most institutional OTC trades now have a stablecoin on one side.

38. Stablecoins' share of institutional OTC volume rose from 23% in 2023 to 78% in 2025

Stablecoins' share of institutional OTC transaction volume rose from 23% in 2023 to 78% in 2025, per the Finery Markets Crypto OTC Trading Report 2026.

39. Stablecoin OTC volume grew 94% year over year in H1 2026

Stablecoin volumes on Finery Markets nearly doubled in the first six months of 2026, up 94% year over year in total OTC volume.

40. 40% of institutions name OTC as their first-choice execution venue

In the Finery Markets survey for its 2026 OTC report, 40% of institutions named OTC as their first-choice execution venue, routing over half of their trades off-screen. Off-screen execution keeps the order private, yet the settlement transfer still lands on a public chain, where counterparties can reverse-engineer a desk's book.

41. 75% of liquidity providers report declining spread capture

Of liquidity providers surveyed by Finery Markets, 75% reported declining spread capture in 2025 versus 2024. With thinner margins, a desk has more to lose when counterparties can read its flows.

What this means for businesses moving stablecoins

B2B flows are the largest category of real stablecoin payments, single transfers are large, and stablecoins now sit on one side of most institutional OTC trades. Each of those transfers settles on a public ledger, where a vendor, a customer or a trading counterparty can read the sender, the recipient and the amount, and piece together a company's payment history from them. For a worked example, see how to execute confidential B2B settlements on Ethereum.

Hinkal Prime is built for treasury and B2B payouts. The organization's private balance is held inside the Hinkal smart contract instead of a public wallet. Members prepare single payouts or batch payouts of up to 500 rows from a CSV file, owners approve them, and a batch is signed once. With Confidential Settlement, the recipient's wallet does not appear as the on-chain receiver, and recipients need no Hinkal account. PSPs, payment processors and OTC desks that want the same inside their own product use the Hinkal API and SDK, with no changes to custody, compliance processes or routing logic. Hinkal runs on Ethereum, Solana, TRON and major EVM networks. Compliance stays in place: Chainalysis KYT screening runs at entry, and viewing keys give auditors and regulators selective disclosure when required. Payments are confidential to counterparties, not anonymous. Our readiness report on confidential settlement under MiCA, the Travel Rule and GENIUS covers the regulatory side.

Methodology

Each figure was checked against its original publisher in October 2026, with its period and publication date. Survey figures describe the respondents of that survey. Forecasts and market-size estimates are labeled as such. Each figure is attributed to its publisher in the line where it appears, with its period.

Frequently asked questions

How much B2B payment volume settles in stablecoins?

About $226 billion in 2025, based on annualized December 2025 data, up 733% year over year, according to McKinsey, using Artemis Analytics data. Stripe's 2025 annual letter estimates that 60% of about $400 billion in 2025 stablecoin payments were B2B.

How long does a traditional B2B cross-border payment take?

In 2025, 2.2% of B2B cross-border payments under $100,000 were credited within one hour and 39.6% within one business day, according to the Financial Stability Board. The other 60.4% took longer than one business day.

What share of cross-border payments uses stablecoins today?

Significantly less than 1% of non-wholesale cross-border flows in 2025, according to FXC Intelligence. Most executives surveyed by EY-Parthenon in June 2025 expect stablecoins to carry 5% to 10% of cross-border payments by 2030.

How many companies use stablecoins for business payments?

13% of financial institutions and corporates used stablecoins in EY-Parthenon's June 2025 survey. Among US corporate treasury teams, only 1% were piloting or using them in March 2026, according to the AFP.

Why do OTC desks settle in stablecoins?

Stablecoins are the main settlement asset in institutional OTC trading. They accounted for 81% of OTC trades on Finery Markets in H1 2026, an all-time high, and stablecoin OTC volume grew 94% year over year in that period.

Are B2B stablecoin settlements private?

Not by default. The average B2B stablecoin transfer on Tron and Ethereum exceeded $219,000 in the Artemis Analytics study, and on a public chain each one shows sender, recipient and amount to any counterparty that reads the ledger. Hinkal keeps sender, recipient and amount private on public chains, and Hinkal Prime applies this to treasury and B2B payouts, with Chainalysis screening at entry and viewing keys for selective disclosure.

Related reading

• Best Private Settlement Infrastructure for Solana Businesses
• Best Confidential Settlement Platforms for B2B Crypto Merchants
• Confidential Stablecoin Settlement Under MiCA, the Travel Rule, and GENIUS: 2026 Readiness Report

Learn more about Hinkal Pay.