Since the U.S. legislation in July, stablecoin usage has skyrocketed by 70%!

# By Ye Huiwen  

# Source: Wall Street News  

After the passage of the U.S.’ first legislation targeting the cryptocurrency industry, stablecoins—digital tokens pegged to fiat currencies such as the U.S. dollar—are gradually being adopted by more consumers and enterprises for purchasing daily goods and paying for services.  

According to the latest report from Artemis, a blockchain data provider, the market has responded to regulatory progress. Since the *Genius Act* was signed into law in July this year to regulate stablecoin issuance, the real-world usage of stablecoins has increased. Data shows that in August, the transaction volume of goods, services, and transfers completed via stablecoins reached approximately $10 billion, up from $6 billion in February.  

The main driver of this change comes from the enterprise sector. The report indicates that business-to-business (B2B) transfers currently account for roughly two-thirds of total stablecoin payments, reflecting that some enterprises have begun to use stablecoins to alleviate the delays commonly seen in traditional international bank transfers.  

Although the total volume of stablecoin payments is still far lower than that of traditional payment systems, its recent growth has attracted the attention of some industry participants. Researchers at Artemis estimate that if the current usage level is maintained, the annual payment scale of stablecoins may reach approximately $122 billion.  

## Stablecoin Payment Volume Rises, with Annualized Scale Expected to Hit $100 Billion  

The Artemis report shows that stablecoin payment activity has been on an upward trend recently. Transaction volume exceeded $10 billion in August, higher than the $6 billion recorded in February and also above the figure for the same period last year.  

This change occurred after the passage of relevant U.S. legislation. Andrew Van Aken, a data scientist at Artemis, stated:  

“After the passage of the *Genius Act*, there has indeed been a certain change in the supply trend of stablecoins. We believe this Act has had a gradual impact on the growth of stablecoin usage.”  

If the monthly transaction volume remains at the $1 billion level, the annualized scale of stablecoin payments is expected to be approximately $122 billion. While this still accounts for a small share of the overall payment system, the growth trend indicates that stablecoins are gradually being accepted in specific scenarios.  

## Enterprise Payments Become the Main Growth Driver  

The report points out that B2B payments have now surpassed peer-to-peer (P2P) transactions to become the primary driver of stablecoin payment growth.  

Data shows that monthly B2B transfer volume reaches approximately $6.4 billion, with a significant increase since February, while the transaction volume between individual consumers has remained basically stable at around $1.6 billion per month. This suggests that the use cases of stablecoins are expanding from small-scale personal transfers to large-value payment scenarios for some enterprises.  

The main consideration for enterprises adopting stablecoins is to improve efficiency. Van Aken mentioned that some enterprises are dissatisfied with traditional cross-border payment processes, as funds often need to go through multiple banks, resulting in delays.  

Stablecoins provide an alternative, enabling enterprises to complete payments more quickly. According to the report, the average amount of stablecoin payments by enterprises is approximately $250,000, and payment speed holds certain importance for transactions of this scale.  

Traditional financial institutions are also paying attention to this trend. Reports indicate that some banking services are considering using stablecoins for future international payment businesses.  

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