Key takeaways - Stablecoins processed more than $33 trillion in transactions in 2025, a volume Morph says exceeds Visa and Mastercard combined. - Business-to-business payments now drive the bulk of real-economy stablecoin use, representing roughly 60% of identifiable on‑chain business flows. - Morph is backing a $150 million accelerator (supported by Bitget) to build the payments infrastructure it believes will capture the next wave of blockchain-based settlement. Stablecoins eclipsed card networks — according to Morph Stablecoin activity hit an eye‑watering scale in 2025: Morph’s “State of Stablecoins” report estimates annual stablecoin throughput at over $33 trillion, a figure the company says outstrips the combined annual volumes publicly reported by Visa and Mastercard. Morph, an Ethereum layer‑2 focused on payments, is doubling down: it announced a $150 million accelerator program this week, backed by Bitget, aimed at payment-focused blockchain applications. A structural shift from speculation to settlement The report argues these aren’t just trader-driven rails anymore. Since 2020, stablecoin market capitalization has grown roughly 60x, while active stablecoin wallets jumped about 53% to more than 30 million. Monthly transaction volumes tied to major scaling solutions topped $1.25 trillion in August 2025, signaling a move from speculative trading toward real‑world payment and settlement use cases. B2B is the growth engine The fastest growth is in B2B payments. Monthly B2B stablecoin flows rose from under $100 million in early 2023 to over $6 billion by mid‑2025, and now account for about $226 billion — roughly 60% — of identifiable real‑economy stablecoin volume. Morph attributes much of this to corporate treasury activity and cross‑border settlement, where firms see tangible cost savings: 41% of institutional respondents in Morph’s survey reported cutting payment costs by at least 10% when routing payments through stablecoins. What the forecasts predict Morph’s outlook is bullish. The report forecasts total stablecoin market capitalization could top $1.9 trillion by 2030. It also highlights two potential structural shifts: AI agents may become a major source of stablecoin transactions as soon as 2027, and legacy financial infrastructures — including SWIFT — are expected to begin integrating stablecoin functionality to remain competitive. On the regulatory front, the report suggests that some emerging-market jurisdictions might explore formal recognition frameworks for private stablecoins alongside national currencies by 2028. Meanwhile, 54% of surveyed organizations said they plan to explore and implement stablecoin solutions within the next 12 months. The infrastructure race — and Morph’s wager Morph sees infrastructure as the battleground for the next phase of growth. As enterprise use and cross‑border settlement scale, competition among Ethereum layer‑2s to become the default payment rail is intensifying. The $150 million accelerator is Morph’s tactical bet that building payments infrastructure now will secure its place in this emerging ecosystem. Execution will determine whether the market agrees — but Morph’s move makes clear that infrastructure for stablecoin payments is where many expect the next wave of blockchain adoption to be won. Read more AI-generated news on: undefined/news