Key Takeaways:
Morph says stablecoins hit $312B in 2025, signaling shift beyond trading into finance. Visa and Mastercard trail $33T stablecoin volume, reshaping payment competition. SWIFT may launch stablecoin layer by 2027 as adoption grows among Fortune 500 firms.
Morph Analysis Shows Corporate Adoption Driving Stablecoin Expansion Across U.S. Markets
The report, released by Morph and shared privately with Bitcoin.com News prior to release, presents stablecoins as a growing component of global payments infrastructure rather than a tool limited to crypto trading. Morph serves as a universal settlement layer built to support onchain payments at global scale.
Constructed on an Ethereum layer-two ( L2) framework, it delivers infrastructure that enables digital assets to function as practical currency for consumers, businesses and institutions worldwide. The team’s report explained that annual stablecoin transaction volume climbed to $33 trillion in 2025, surpassing the combined throughput of Visa and Mastercard.
That figure reflects a shift in how these assets are used, with activity increasingly tied to business payments and operational flows rather than speculative trading. Data compiled with Artemis Analytics shows business-to-business (B2B) stablecoin payments rising from under $100 million per month in early 2023 to more than $6 billion per month by mid-2025.
Monthly transaction volumes crossed $1.25 trillion in August 2025, while active wallets grew 53% to more than 30 million, pointing to broader participation across users and enterprises. B2B activity now accounts for roughly $226 billion, or about 60% of identifiable real-economy stablecoin volume, estimated at $390 billion annually.
The Morph report also highlights cost efficiency as a key driver, noting that stablecoin transfers allow smaller, frequent payments that traditional systems struggle to handle economically. Morph’s researchers say among corporate users, 41% reported cost savings of at least 10%, while 77% cited supplier payments as the primary use case for stablecoin adoption.
“The data is clear: we are no longer in a pilot phase,” said Morph CEO Colin Goltra, adding that firms adopting stablecoins in 2026 may gain speed and cost advantages over legacy systems. Goltra added:
“Organizations building stablecoin capabilities in 2026 will hold a structural cost and speed advantage over those tethered to legacy rails.”
Looking ahead, Morph projects annual settlement volume could exceed $50 trillion by the end of 2026, driven by institutional demand and broader enterprise integration. The report expects most Fortune 500 companies to pilot stablecoin payments this year, with further changes anticipated across financial infrastructure.
By 2027, artificial intelligence (AI) agents could become the largest source of transaction initiation, while SWIFT may introduce its own stablecoin settlement layer to remain competitive. Longer term, the report forecasts total market capitalization exceeding $1.9 trillion by 2030, with stablecoins facilitating 5% to 10% of global cross-border payments.
Morph has also launched a $150 million payment accelerator backed by the Bitget ecosystem to support infrastructure and adoption. The initiative aims to connect traditional finance systems with onchain settlement, as more organizations plan to deploy stablecoin solutions within the next 12 months.
