Stablecoin volume surpasses $6B as B2B and card payments drive real-economy use - Trade Treasury Payments

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Stablecoin volume surpasses $6B as B2B and card payments drive real-economy use

Monthly stablecoin volumes linked to economic activity have reached $6 billion, according to data published 30 May 2025 by Lex Sokolin of Generative Ventures. 

The analysis, supported by Artemis, Castle Island Ventures, and Dragonfly, indicates that over half of this volume stems from business-to-business (B2B) transactions, with card-based spending by consumers also accounting for a growing share.

The largest portion of observed activity is tied to B2B use cases, including cross-border payments, intercompany transfers, and working capital flows, which are areas where stablecoins offer better global reach compared to traditional channels. The data suggests that firms are increasingly using blockchain-native assets as functional components of financial operations.

Alongside institutional usage, retail adoption is also advancing. Stablecoin-linked debit cards, offered by providers such as Coinbase and Crypto.com, enable users to transact in digital dollars at point of sale. 

While card transactions remain a smaller subset of overall volume, their upward trajectory suggests that stablecoins are increasingly viewed as viable mediums for day-to-day spending.

The data reinforces the notion that stablecoins are moving beyond speculative contexts toward functional integration in payments ecosystems. For infrastructure providers (particularly those facilitating stablecoin issuance and cross-chain movement), this may indicate potential upside in both user base and transaction volume.

Tokens tied to these infrastructures may benefit from increased activity, though pricing will remain subject to market sentiment and broader macro conditions.

As stablecoin adoption extends into real-world payment flows, regulatory attention is expected to intensify. Key focus areas include reserve management and potential spillovers into fiat-denominated systems. 

How this utility scales (and how regulators respond) will shape the next phase of development across the digital asset ecosystem.