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Stripe’s reported stablecoin payment volume climbed to about $400 billion in 2025, according to Tech in Asia. Separate data from McKinsey and Artemis Analytics put annual “real” stablecoin payments at about $390 billion. Those figures cover goods, services, and remittances rather than all on-chain transfers. Analysts say the distinction matters because raw blockchain totals often include activity that does not reflect real-world payments.
McKinsey and Artemis Analytics estimate that real stablecoin payments now reach about $390 billion a year. The figure reflects payment activity tied to commerce and remittance flows rather than broader blockchain movement.
The same data show that B2B settlement makes up the largest share of that total. About 60% of real payment volume, or roughly $226 billion, comes from business-to-business transactions. The report says that the segment rose 733% year over year in 2025.
Even so, researchers warn against reading raw transfer totals as direct payment demand. On-chain volumes can include internal wallet transfers, arbitrage, and liquidity management. For that reason, methodology and scope remain central when firms compare payment figures.
For merchants, the growth in real stablecoin payments points to broader utility beyond trading-related activity. The strongest gains appear in B2B corridors and remittances, where treasury teams and accounts payable functions already need faster settlement tools.
Stablecoin rails may reduce friction in cross-border payments and bring more predictable reconciliation. That potential has pushed the sector further into enterprise planning. In 2025, Payment Expert editor Rachael Kennedy said stablecoins entered enterprise RFPs and boardroom discussions.
That shift also affects vendor selection. Risk and compliance teams now look closely at auditability, reporting standards, and regulatory alignment. Providers that define payment activity clearly may have a better chance of meeting enterprise procurement requirements.
Stripe’s longer-term public market path depends on whether current payment momentum holds. Continued expansion in B2B stablecoin flows remains the clearest growth driver. With 60% of the company’s reported $400 billion volume tied to B2B activity, that segment now carries much of the weight.
Still, Stripe has not announced near-term plans for a public listing. Its reported $159 billion valuation comes from private secondary market flows, not a public offering price. Company leadership has said the focus remains on building infrastructure rather than moving quickly toward an IPO.
Two developments could shape that outlook. One is further regulatory clarity on stablecoin reserves, including the U.S. GENIUS Act and the EU’s MiCA framework. The other is Stripe’s planned blockchain, Tempo, which could become a proprietary rail for rising stablecoin volume.
As payment activity grows and enterprise pilots continue, one question remains: can rising B2B stablecoin flows sustain the momentum needed to support Stripe’s next phase?
Read More: Top 5 Stripe Alternatives in 2025: PayPal, Verifone & More
Stripe’s reported stablecoin volume reached $400 billion in 2025, while analysts said only clearly defined commercial flows should count as real payments. B2B settlement led that growth, and merchants now watch stablecoin rails more closely for cross-border efficiency, compliance, and future infrastructure readiness.
