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The global business-to-business payments market is estimated to move over $100 trillion in payments volume annually. Much of this volume still moves via check or wire transfer, costing organizations substantial time and resources. Stablecoins are emerging as a near-instant, low-cost alternative that is already beginning to transform how organizations pay and move funds. Approximately $269 billion in stablecoins are already in circulation today, and global supply is projected to grow to $434 billion by 2028, according to Visible Alpha consensus estimates.
The Take
While it is still early days for broad adoption of stablecoins in day-to-day organizational transactions, commercial payment providers are actively building out their stablecoin strategies and value propositions. Cross-border payment shares are the most impacted, while emerging opportunities such as treasury management are gaining momentum. We expect broader industry adoption across B2B payments use cases to rely heavily on a combination of greater regulatory clarity and partnerships that can help alleviate the complexity of launching, using and managing stablecoins.
Context
Sending organizations’ payments internationally can be slow and costly. Often, the transaction must pass through multiple intermediaries with their own fees, regulations, and infrastructure. Stablecoins have the potential to drastically reduce fees and settlement for B2B payments. Stablecoins are a form of cryptocurrency pegged 1:1 to a fiat currency to maintain stability. They move across blockchain networks rather than bank intermediaries. With 24/7 near instant settlement (minutes) and lower fees than other payment rails, organizations can move money quickly and at a fraction of the cost of traditional wires.
Use cases
Stablecoins used for cross-border payments are rapidly gaining traction, while other areas, such as treasury management, are still testing product-market fit. We cover several emerging B2B payments use cases below:
Cross-border supplier payments: Sending funds across borders can take days and cost organizations numerous rounds of fees when passing through intermediaries. Tracking payments and the true cost of settlement remains opaque. This not only obscures cash flow visibility, but it can also damage buyer/supplier relationships when payments are delayed. When money is tied up in transit, organizations forego yield or utility from that payment until it clears. Advancements in cross-border payments technology are offloading some of this complexity, but cross-border payment delays and fees remain burdensome. Stablecoins provide near-instant settlement and much lower fees compared with traditional checks and wires. Stablecoins also bring transparency to cross-border payments because each transaction is recorded on-chain. Transacting in a stable currency can also mitigate currency volatility.
Numerous providers are already enabling stablecoins for cross-border payments, and the list is growing. Examples include:
- Sokin: The B2B cross-border payments company enables organizations to hold a stablecoin wallet alongside their traditional currency accounts. This allows customers to open accounts, send and receive payments, and convert between traditional currencies and stablecoins in a single platform.
- dLocal: The cross-border payments company partnered with Stable Sea to offer B2B international payments.
- Convera Holdings LLC: The global B2B payments provider announced a partnership with Ripple Labs Inc. in March 2026 that will enable organizations to make cross-border and treasury payments using stablecoins.
- OpenFX: The foreign exchange startup raised $94 million in a Series A round to enable stablecoins for cross-border payments.
Payroll and contractor/gig payouts: Organizations with international employees can benefit from using stablecoins for payroll and gig payouts. For example, a US-based employer with international contractors might pay in USD. The transaction could take days to settle, delaying employee access to their wages. When the earnings are converted into local fiat, changing currency values and FX fees can obscure visibility into the true value of their earnings. Stablecoin transactions are processed 24/7, 365 days a year and are subject to lower fees, so employees can quickly receive salary and wages in a stable currency with or without a bank account. Then, the employee can hold and spend stablecoin using their digital wallet or convert funds into their local currency.
Startups such as Rise and Bitwage, Inc. (acquired by Paystand Inc.) are global payroll providers supporting local currency, stablecoin and cryptocurrency payouts while handling compliance and payment routing. Remote, a global HR and payroll platform, offers stablecoin disbursements through Stripe LLC.
Numerous other payment providers are supporting stablecoin payouts, including:
- Visa Inc.: In September 2025, it announced its real-time money movement network, Visa Direct, would pilot a stablecoin pre-funding option enabling organizations to fund Visa Direct payouts using stablecoins and settle in fiat. Recipients can choose to receive fiat or USDC in their stablecoin wallets. Visa is currently working with select partners, with a wider rollout planned this year.
- Mastercard Inc.: The network is enabling stablecoin payouts to wallets in partnership with Thunes Financial Services Inc. and recently acquired stablecoin orchestration specialist BVNK Digital Assets Ltd.
- Episode Six: The card issuing and ledger infrastructure provider partnered with Rain to enable organizations to payout global vendors, contractors and employees using stablecoin-backed cards. The recipient receives a stablecoin deposit with a card attached. The funds can be spent anywhere Visa is accepted or converted to fiat.
- Stripe: The processor has been building out its stablecoin capabilities through Bridge, which it acquired in early 2025. Stripe provides the infrastructure that enables organizations to launch, accept and make stablecoin payments, including payouts.
- Worldpay: The global payment processor announced stablecoin-linked payout capabilities for clients in the US and Europe in partnership with BVNK.
Intercompany settlement: Stablecoins can be used as a rail to help streamline intercompany settlement. Organizations can have numerous entities transacting within the same parent company. Currency exchange rates, varying tax regulations, and multiple accounting systems can delay and complicate the process. Stablecoins can help streamline these transactions by settling nearly instantly, reducing transaction costs, and enhancing reconciliation. Treasury teams can move funds across regions and departments, bypass intermediaries, and settle in minutes on the blockchain. Rather than waiting for transactions initiated in ERPs to be settled at the bank and reconciled across ledgers, stablecoin transactions are approved and recorded on a shared ledger.
Stablecoins for use in intercompany settlement are already materializing. In November 2025, Trovata Inc. launched CORP$ in partnership with stablecoin issuer Paxos Trust Company LLC for finance and treasury teams to use USDP for settling intercompany receivables and payables, with plans to support additional use cases in 2026. The service enables organizations to accrue earnings credits on stablecoin balances and make fee-free intercompany payments. In another case, Space Exploration Technologies Corp. uses stablecoins to hedge against foreign exchange risks. It partnered with Bridge (acquired by Stripe) to accept payments in multiple currencies, then convert the payments to stablecoins for treasury management purposes. Additionally, Siemens uses JPMorgan Chase & Co.’s JPM Coin to automate liquidity sweeps between international accounts.
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