Stablecoin payments are experiencing explosive growth: After the passage of the Genius Act, monthly transaction volume has surpassed $10 billion, with B2B transactions by enterprises becoming the main driving force.

According to Bloomberg, since the signing of the United States' first stablecoin regulatory bill, the Genius Act, into law on July 18, the actual application of stablecoins has seen explosive growth. According to an Artemis report, the transaction volume for goods, services, and transfers using stablecoins exceeded $10 billion in August, far surpassing $6 billion in February, and doubled compared to August 2024. Researchers noted that if this growth rate continues, the annual payment volume for stablecoins is expected to reach $122 billion. Among them, cross-border payments between businesses (B2B) have become the main driver, with monthly transaction volume reaching $6.4 billion, surpassing peer-to-peer (P2P) consumer transactions for the first time.

Regulatory Boot Drops: Genius Act Boosts Stablecoin Application Surge

The explosive rise of stablecoins closely followed the signing of the Genius Act by U.S. President Donald Trump. This landmark legislation established a federal regulatory framework for stablecoin issuers and requires that their tokens be fully backed by highly liquid assets, such as U.S. Treasury bills.

Andrew Van Aken, a data scientist at Artemis, pointed out that the Genius Act has had an incremental impact on market trends:

“If you observe the established trend of stablecoin supply, you will find that after the Genius Act is passed, its rise trend becomes steeper.”

Although the annualized scale of stablecoin payments at $122 billion is still small compared to the huge transaction volumes of traditional payment systems, it undoubtedly provides an optimistic growth outlook for stablecoin advocates. Its growth rate far exceeds expectations, showcasing the strong potential of crypto payments in the real world.

Cross-border B2B payments have become the core battlefield for stablecoin applications

The biggest contribution of stablecoins in the field of actual payments is concentrated on business-to-business (B2B) transfers. The Artemis report shows that B2B transfers account for nearly two-thirds of the total payment volume of stablecoins, reaching $6.4 billion per month, which has risen by 113% since February.

• First time surpassing P2P: This marks the first time that enterprise payment volume has exceeded the point-to-point (P2P) consumer transaction volume, which has been maintained at 1.6 billion USD per month.
• Pain Points for Enterprises: Companies are using stablecoins to bypass the lengthy delays of traditional international banking. Van Aken stated that businesses are tired of the “cumbersome process of sending deposits to one bank, then it sends them to another bank” multi-hop process.

Stablecoins have significant advantages in large-scale purchases. Van Aken revealed that the average amount of corporate stablecoin payments is $250,000, and speed is crucial in such large transactions. By using stablecoins, companies can avoid delays caused by routing payments through multiple intermediary banks in traditional systems.

Speed and Yield: The Two Core Advantages of Stablecoins

The rapid adoption of stablecoins is not only because they address the speed issue of cross-border payments but also because they offer additional advantages that traditional finance does not have.

Van Aken added that stablecoin users can earn yield and facilitate faster capital transfers, which brings additional advantages. The combination of user yields and transaction speed means that stablecoins will continue to attract more adoption.

This trend has attracted the attention of traditional financial giants. Zelle, which is owned by banks and provides consumer fund transfer services, plans to expand its international services and will rely on stablecoins to facilitate cross-border fund flows.

Van Aken concluded, “As stablecoins prove to be better currencies, this will only accelerate people's trust in them and continue to drive their rise.”

Conclusion

The regulatory clarity of the Genius Act has opened the door for the large-scale commercial application of stablecoins, particularly as B2B cross-border payments have become the core breakthrough for stablecoins to overcome traditional financial barriers. The milestone of monthly payment amounts exceeding $10 billion has solidified the status of stablecoins as global digital payment tools. As the advantages of speed, low cost, and on-chain yields continue to stand out, stablecoins are expected to further erode the market share of traditional payment giants in the coming years.

Disclaimer: This article is for informational purposes only and does not constitute any investment advice. The cryptocurrency market is highly volatile, and investment decisions should be made with caution.