What are stablecoins used for?

Hey Artemists,

The #1 question we get about stablecoin data is how much of stablecoin volume is used for actual payments.

We’re proud that we’re able to now answer this question!

Today we launched a major stablecoin report with Castle Island and Dragonfly and you can read the full report here: https://stablecoin.fyi/

Check out the interview with our co-founder / COO Anthony Yim with Nic and the Castle Island team:

Here are some takeaways from the report:

1. Total stablecoin payments within the sample annualized at a $72 billion run rate +88% YoY in February ‘25.
   
2. In comparison, Visa did $13.2T growing 7% YoY in 2024. Stablecoin payments (from the sample) is still early and at ~0.55% the volume of Visa but growing rapidly.

2. The most popular stablecoin used by sampled firms was Tether USDT , with around 80 % market share by volume, followed by Circle USDC.

3. Within the sample, TRON was the most popular blockchain by volume, followed by Ethereum, Binance Smart Chain, and Polygon.

4. It also appears Tether/Tron are not just an emerging markets story - developed countries also heavily rely on this pair

          5. Stablecoin B2B payments are still in the early phases at $36B annualized up 315% YoY.

There is still so much room to grow - with B2B estimates from Visa at $145T. Stablecoin B2B payments at $36bn annualized is still just a fraction

Let us know if you have any questions!

Cheers,

Artemis Team