A report released by Morph has shed light on the rapid growth of stablecoins in the blockchain ecosystem. According to the report, stablecoins processed over $33 trillion in transactions in 2025, exceeding the combined annual volumes reported by Visa and Mastercard.
The growth is primarily driven by business-to-business (B2B) payments, which now account for around 60% of real-economy stablecoin usage. This shift in usage is attributed to corporate treasury activity and cross-border settlement use cases, where stablecoins offer significant cost savings compared to traditional payment methods.
Morph's report also forecasts the total stablecoin market cap to reach $1.9 trillion by 2030, with two key structural shifts anticipated in the coming years: AI agents becoming a major driver of stablecoin transaction activity and legacy financial infrastructure providers integrating stablecoin capabilities to remain competitive.