Stablecoins are no longer sitting on the fringes of finance as they once were. In fact, new internal data gathered by INXY Payments suggests that in fact, they’re fast becoming a core operational payment rail for businesses across a growing number of mainstream industries.
Having now crossed $2 billion in annual transaction volume, INXY Payments analysed its internal transaction data to map how stablecoin usage is evolving globally. Indeed, the findings point to a clear structural shift – companies are increasingly using stablecoins not for speculation, but for payroll, commerce, donations and day-to-day cross-border operations.
And, this growth has been rapid.
INXY reports 500% year-on-year growth, a milestone that coincides with a record year for the wider stablecoin economy. According to a16z’s State of Crypto 2025 report, stablecoins exceeded $9 trillion in global transaction volume over the last 12 months, up 87% year on year, with September 2025 alone hitting $1.25 trillion.
From Crypto-Native to Mainstream Sectors
Early stablecoin adoption was largely confined to crypto-native businesses. INXY’s data shows that this is no longer the case. Over the past year, usage has diversified sharply into industries that rely on speed, cost efficiency and global reach.
According to INXY’s analysis, the fastest-growing sectors for stablecoin payments include:
- Non-profit donations, with 321% year-on-year growth
- Payroll and global workforce platforms, growing 224%
- Gold and precious metals, up 205%
- AdTech and affiliate networks, growing 157%
- E-commerce and online retail, up 96%
- Fashion, growing 95%
- Electronics, up 62%
Further growth has also been recorded across some other industries, including automotive, luxury goods, airlines, gaming, software and EdTech platforms, indicating that stablecoins are increasingly embedded across the global economy rather than concentrated in a single vertical.
Why Businesses Are Moving Away from SWIFT
Global B2B stablecoin payments have expanded dramatically, growing more than fiftyfold in under three years, from $119 million in January 2023 to $6.4 billion by August 2025 – not a small change, by any means.
For many businesses, stablecoins now outperform traditional rails like SWIFT. Settlement is faster, fees are lower and geographic limitations are reduced. Importantly, volatility concerns are largely eliminated through the use of digital dollars such as USDT and USDC.
Across the sectors analysed, INXY sees the same pattern repeat: stablecoins are functioning as financial infrastructure, not speculative assets. This is reflected in the company’s reported ~130% net revenue retention rate, showing that compliant, low-risk businesses not only stay on the platform but increase transaction volumes year after year.
A Shift That’s Showing No Signs of Slowing Down; It’s Accelerating
According to Serge Kuznetsov, co-founder of INXY Payments, this momentum is far from slowing down.
“Stablecoin adoption will accelerate rapidly next year, both in usage volume and real-world applications,” he said. “Especially the growth rate will keep increasing in Latin America and Africa. In those regions, stablecoins are already a practical option compared to local currencies and mainstream banking services.”
Europe is also expected to play a larger role as regulatory clarity improves. Kuznetsov noted that stablecoins are likely to become better established as legitimate and regulated financial instruments, allowing them to move beyond niche use cases and into payments, e-commerce, B2B settlements and treasury operations.
Lessons To Be Learned for Startups and Builders
The data also carries a clear message for blockchain and stablecoin startups. According to Kuznetsov, the market has moved on from theory.
“Blockchain and stablecoin startups have to understand that stablecoin isn’t only theoretical anymore,” he said. “Products should be designed for traditional businesses too, not only crypto enthusiasts. And businesses want simplicity, compliance and easy integration.”
Rather than relying on speculative demand, he argues that the next phase of growth will come from solving real operational problems for businesses, with usability and regulatory readiness taking priority over ideology.
What Businesses Should Know Going Into 2026, According to INYX
For companies considering stablecoins as part of their payment stack, Kuznetsov is clear about the opportunity ahead.
“I strongly recommend that more businesses seriously consider adding stablecoins as a payment method in 2026. It’s just simple math,” he said. “Integrating stablecoin payments can increase revenue by 3%, 5%, 10%, and in some markets, even up to 20%.”
He also points to changing consumer behaviour, noting that average stablecoin transaction sizes are significantly higher than fiat equivalents, alongside faster, cheaper and more transparent transfers.
As INXY’s data shows, stablecoins are no longer an experiment running alongside traditional finance. They are increasingly becoming part of how global business actually works.
