Blockchain settlement network Morph has published an industry report indicating that the total stablecoin market capitalization reached US$312 billion by the end of 2025. According to the document, annual stablecoin transaction volume hit US$33 trillion last year, exceeding the combined throughput of traditional payment networks Visa (US$15.7 trillion) and Mastercard (US$9.8 trillion).
Shift Toward B2B Transactions
The Morph Network report, titled “The State of Stablecoins,” highlights a transition in stablecoin usage from speculative cryptocurrency trading to business-to-business (B2B) payments.
Citing data from crypto analytics platform Artemis, Morph noted that B2B stablecoin payments increased from under US$100 million per month in early 2023 to over US$6 billion per month by mid-2025. Overall, B2B flows currently account for approximately US$226 billion, representing 60% of identifiable real-economy stablecoin volume. Furthermore, monthly transaction volume across all use cases crossed US$1.25 trillion in August 2025, with active wallets growing by 53% to over 30 million.
Corporate Adoption and Efficiency
The report surveyed corporate stablecoin adopters and found that 77% utilize the digital assets primarily for supplier payments. Additionally, 41% of corporate users reported cost savings of at least 10% compared to traditional money transfer providers.
Morph CEO Colin Goltra stated that stablecoins have become a structural necessity for modern treasury and procurement operations:
“Organizations building stablecoin capabilities in 2026 will hold a structural cost and speed advantage over those tethered to legacy rails.”
Industry Projections
Morph’s report also outlined several forecasts for the digital asset sector. The firm projects that annual stablecoin settlement volume will exceed US$50 trillion by the end of 2026. The report predicts that by 2028, an emerging market economy will adopt a private stablecoin as legal tender alongside its national currency. By 2030, Morph anticipates the total stablecoin market capitalization will surpass US$1.9 trillion, intermediating up to 10% of all global cross-border payments.
Morph Payment Accelerator Launch
Coinciding with the report’s release, Morph announced the launch of its Payment Accelerator program, featuring a US$150 million commitment backed by the Bitget ecosystem. The initiative aims to provide capital, technical integration, and infrastructure to fintech firms, banks, and payment companies deploying high-volume stablecoin applications, such as cross-border remittances and merchant gateways.
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This article is published on BitPinas: Stablecoin Transaction Volume Reached $33 Trillion in 2025, Outpacing Major Credit Networks — Morph
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