Last month, the team at Artemis in partnership Castle Island Ventures, Dragonfly and a number of prominent companies in the industry had published a key stablecoin report.
Here are some of the key trends described throughout:
B2B (Business-to-Business) as a payments category has become the leader for the aggregated data studied in the given time frame. Specifically, it overtook P2P (Peer-to-Peer) from August 2024 onwards and saw $76B in volumes vs. $19B for the latter (annualised).
Stablecoin Payment Categories.
In the last 6 months, the top place network which facilitates most of the stablecoin settlement has become more highly contested between Ethereum and Tron.
The findings also show as a more consistent presence of Polygon as a faster, cheaper solution gaining more traction. Before then, Tron would take most months due to Tether’s USDT stablecoin.
Stablecoin Payments By Token.
Out of the top 6 countries seeing the most stablecoin transactions, UK was the only significant region without a clear and concrete regulatory framework.
A couple of weeks after this report came out, the Bank of England had revealed its proposed revisions and additions from last year’s industry consultations, and it seems more time is required.
Stablecoin Transaction Volumes By Country.
Some other considerations from this:
- More security efforts need to be shown towards the Tron network – it accounts for the largest % of all stablecoin transaction types and if it were to go down, impact would occur.
- Polygon will likely start to take a bigger chunk of the pie, with the company partnering with more RWA specific causes, institutional and state-level participants such as the Indian government, as well as high volume projects like Polymarket.
- Other use-cases are chasing B2B and are on the come up (meaning less than $1B in recorded volume per the report) including: B2C (Business-to-Consumer) on payouts, prefunding, as well as stablecoin cards for invoice and treasury management.
