Ethereum’s B2B Stablecoin Volume Skyrockets 156% - Corporate Adoption Goes Mainstream

Forget retail speculation—the real money is moving behind the scenes. A new report reveals business-to-business stablecoin transactions on Ethereum just exploded by 156%. That's not your cousin buying memecoins; that's corporate treasuries waking up.

The Institutional Pivot

This surge signals a tectonic shift. Enterprises are finally using crypto for its original promise: efficient, global value transfer. They're cutting out correspondent banking delays and bypassing traditional FX friction. The plumbing of global finance is getting a blockchain upgrade, whether legacy banks like it or not.

Why Ethereum Wins the Back Office

Liquidity, security, and a mature developer ecosystem make the network the default choice for serious settlement. While other chains tout lower fees, corporations pay for certainty. They need rails that won't break when moving eight or nine figures—rails that have been stress-tested for years.

The Cynical Take

Of course, this growth comes with a classic finance irony. The same institutions that spent a decade dismissing crypto now embrace its most boring, bank-like application. They'll adopt the stablecoin but probably still call Bitcoin a speculative bubble. Some things never change.

This isn't a hype cycle. It's adoption. The 156% figure proves the infrastructure is working at scale. The quiet revolution in B2B payments is already here—it just doesn't need a flashy NFT to prove it.

Growth in stablecoin volume 

Over the period from August 2024 to August 2025, stablecoin payment volume and transaction counts more than doubled. Notably, B2B stablecoin volume surged 156%, accompanied by a 45% increase in average transaction size. These numbers highlight larger institutional settlements while person-to-business (P2B) payments grew even faster at 167%, signaling rising consumer adoption for everyday commerce. 

Despite this growth, the composition of transfers tells a nuanced story. Peer-to-peer (P2P) transactions dominate by count, making up 67% of direct wallet-to-wallet (EOA-to-EOA) transfers, but contribute only 24% of the volume. In contrast, business-related categories, like B2B, P2B, and internal business transfers, drove the majority of dollar value due to their substantially larger average sizes.

The report estimates that genuine payments account for up to 47% of total stablecoin volume on Ethereum, or 35% when excluding internal business moves. It includes only EOA-to-EOA transfers, excluding decentralized finance (DeFi) and smart contract interactions.

This data positions ethereum as an increasingly reliable settlement layer for high-value flows rather than purely retail experimentation.

Larger players continue to dominate the market

Another notable key takeaway from the report is that the large market players (potentially institutions and DAOs) have continued to dominate the space. The top 1,000 sender wallets handle 84% of transfer volume. 

The analysis also notes patterns like reduced weekend activity and a spike in sub-$0.1 transactions, potentially indicative of bots or wash trading, which warrant caution in interpreting raw data. 

The methodology relies on Artemis’s wallet labeling to classify transfers into P2P, B2B, P2B/B2P, and internal business categories. It also acknowledges limitations such as potential misclassification in pseudonymous environments. 

The findings underscore a “quiet adoption” of stablecoins for institutional and commercial purposes on Ethereum. As James, Head of Ecosystem at the Ethereum Foundation, highlighted in recent commentary, these trends reflect Ethereum maturing into infrastructure for borderless, efficient payments—particularly where traditional systems fall short in speed and cost. 

Most stablecoin transactions on Ethereum are P2P at 67%

Most of the volume isn't (only 24%).
Over the last 12 months:

B2B volume grew 156%
Average transaction size ROSE 45%
P2B grew fastest at 167%

Institutions aren't sending more payments. They're sending bigger ones.… pic.twitter.com/Mz03DHzhuS

While P2P remains prominent in transaction numbers, the volume dominance of business flows suggests stablecoins are evolving into a tool for intermediaries and large firms, complementing DeFi and trading activities. 

This report arrives amid broader stablecoin expansion, with global supply exceeding $300 billion and monthly volumes in the trillions. For Ethereum, it reinforces the network’s role in bridging crypto with real-world finance, even as competitors like Tron capture significant shares in certain segments.

Also read: Why Gold and Silver Won 2025, And Why Bitcoin Isn’t Done Yet