Stablecoins Gain Ground in B2B Payments as Businesses Account for 98% of Paybis Volume

Stablecoins are moving beyond retail investors and becoming a core payment tool for business-to-business transactions, according to a report.

Cointelegraph reported on June 3 that about 98% of the stablecoin payout volume processed on Paybis's platform from January through April came from corporate clients. Paybis is a cryptocurrency trading and payments infrastructure provider.

That was up sharply from 36% in 2023.

Citing McKinsey data, Paybis said global stablecoin payment volume reached about $390 billion last year, with roughly 60% estimated to have come from business-to-business transactions.

Stablecoins accounted for 86% of all cryptocurrency transaction volume on the Paybis platform in April, compared with just 12% in July 2023.

The largest sources of demand were digital goods and crypto companies, technology firms, retail and e-commerce businesses, and fintech companies. Those sectors made up more than 78% of all corporate stablecoin transactions.

Survey results also showed broader stablecoin adoption. Some 22.5% of companies surveyed said they already use stablecoins for cross-border remittances or plan to adopt them within the next 12 months.

Companies still tend to overestimate the cost and speed of stablecoin payments. About half of respondents expected transfers to take between one hour and one day to complete, while roughly one-third said fees would be around 3%.

Paybis said actual stablecoin payment costs are typically below 1% and usually settle within seconds to minutes, depending on the network.

Meanwhile, DefiLlama data showed the global stablecoin market capitalization at about $319.5 billion, up from $247.3 billion a year earlier. Tether's USDT held the largest market share at about 59%, followed by Circle's USD Coin, or USDC, with a market capitalization of about $76 billion.