Stablecoin Transactions Surge as B2B Payments Overtake Peer-to-Peer

A new study reveals a significant shift in stablecoin usage, with business-to-business (B2B) transactions overtaking peer-to-peer payments. Analysis of data from 20 stablecoin companies and related firms shows over $94 billion in non-trading stablecoin payments processed between January 2023 and February 2025. This trend is further exemplified by the rise of B2B transactions, surpassing peer-to-peer payments in mid-2024, reaching $3 billion by February 2025. The U.S. and Singapore are leading global stablecoin usage, accounting for nearly 18% of transaction volume.