"U.S. stablecoin payments surge 70%…Genius Act effects take hold, corporate remittances lead"

After the United States passed a stablecoin regulatory bill, reports say the use of stablecoins as a means of actual payments and remittances has been spreading rapidly.

On the 25th (local time), Bloomberg reported that blockchain data analytics firm Artemis said that as of August, payments and remittances for goods and services via stablecoins exceeded 10 billion dollars. That is a 70% increase compared with February (6 billion dollars) and more than double compared with August last year. Artemis projected, 'If this trend continues, annual payment volume would reach 122 billion dollars.'

This sharp increase emerged after the implementation of the stablecoin regulatory bill 'Genius Act', signed by President Trump in July. The bill established federal regulation for stablecoin issuers for the first time and required issued tokens to be fully backed by high-liquidity assets such as U.S. Treasury securities.

Andrew Van Aken, a data scientist at Artemis, said, 'Since the passage of the Genius Act, the growth rate of stablecoin supply has become noticeably steep,' and 'the bill appears to have had a gradual effect on market growth.'

According to the report, about 64% of stablecoin payments were business-to-business (B2B), reaching 6.4 billion dollars per month. This is a 113% surge from February, and it has surpassed peer-to-peer (P2P) transactions of 1.6 billion dollars per month for the first time. Companies appear to be using stablecoins to bypass complex international remittance networks.

Van Aken explained, 'Companies are tired of the inefficiencies of the existing system that goes 'bank → correspondent bank → receiving bank',' adding, 'In large transactions averaging 250,000 dollars, the speed of stablecoins is the greatest competitive advantage.' He added, 'Stablecoins are more efficient than traditional currencies in terms of revenue generation and the speed of capital movement,' and 'the more they are proven to be a better form of money, the more trust and adoption will accelerate.'

As the use of stablecoins for payments spreads rapidly, traditional finance is also responding. The U.S. bank joint payment network Zelle said it plans to expand international remittance services in the future and intends to use stablecoins as payment infrastructure in this process.