Stablecoins are set to transform the $100trn global B2B payments market, offering an alternative to costly checks and wires, according to S&P Global Market Intelligence.
Stablecoins provide near‑instant, low-cost settlement, positioning the technology as a new rail for cross-border, payroll and intercompany flows.
Today, circulating stablecoins total $269bn but are projected to reach $434bn by 2028, as providers and infrastructure partners build out capabilities and seek regulatory clarity.
The report identified cross-border supplier payments as the leading B2B stablecoin use case, addressing delays, opaque fees and multi-intermediary friction in international transfers.
Providers including Sokin, dLocal, Convera (with Ripple) and OpenFX all embed stablecoin rails into platforms that blend traditional accounts with digital wallets.
The report also identified opportunities in global payroll and contractor payouts, where cross-border wages often face multi-day settlement and FX uncertainty.
Stablecoins allow 24/7, 365-day payouts with lower fees and the option to hold, spend or convert to local currency. The report noted Visa, Mastercard, Episode Six, Stripe and Worldpay, among others, were integrating stablecoin-based disbursements and card-linked solutions for employees and gig workers.
On the strategy side, stablecoins can be applied to intercompany settlement and treasury management, helping large enterprises manage numerous entities, currencies and tax regimes.
The report cited SpaceX using stablecoins to hedge FX and Siemens leveraging JPM Coin for automated international liquidity sweeps and internal funding movements as key use cases for this application.
Many B2B providers partner with infrastructure specialists, such as Bridge (Stripe), BVNK, Fireblocks and Zero Hash, to build a layered stablecoin ecosystem, or develop in-house stacks.
The report concluded that wider stablecoin adoption will depend on regulatory clarity and robust partnerships, shaping how stablecoins integrate with existing banking and payment networks across B2B use cases.
