Stablecoin Volume Quadruples as Digital Dollars Defy Crypto Winter

While Bitcoin tumbled 50% from its October peak and the crypto world braced for another "winter," something unexpected was happening in the digital payments space. Stripe's stablecoin arm Bridge saw transaction volume more than quadruple in 2025, processing billions in digital dollar transfers as businesses quietly embraced a new financial infrastructure.

The Great Decoupling

Stablecoins are breaking free from crypto's boom-bust cycles, Stripe revealed in its annual letter Tuesday. While Bitcoin lost 6% over 2025, stablecoin payment volume doubled to approximately $400 billion, with around 60% coming from business-to-business transactions.

"Stablecoin payments are advancing quietly and inexorably as real-world uptake continues apace," the payments giant wrote. The $300 billion stablecoin market is increasingly viewed as utility infrastructure rather than speculative crypto assets.

This shift reflects a fundamental change in how businesses think about digital money. Unlike volatile cryptocurrencies, stablecoins offer the speed and cost benefits of blockchain technology while maintaining the stability of traditional fiat currencies.

Meta Joins the Race

The momentum hasn't gone unnoticed by Big Tech. Meta, Facebook's parent company, plans to launch its own stablecoin in the second half of this year with an outside partner, signaling renewed corporate interest in digital dollar infrastructure.

For Meta, this represents a comeback story. The company's previous attempt with Libra (later Diem) faced regulatory pushback and was ultimately abandoned. But the current stablecoin landscape looks markedly different, with clearer regulatory frameworks and proven business use cases.

Stripe itself is doubling down on crypto infrastructure. The company will "soon" launch the mainnet of Tempo, a payments-focused blockchain developed with crypto firm Paradigm. Last year, businesses processed $1.9 trillion on Stripe's platform, up 34% from 2024.

Winners and Losers in the New Payment Rails

The stablecoin surge creates clear winners and losers. Cross-border businesses benefit from near-instant settlement and dramatically lower fees compared to traditional wire transfers. A $100,000 international transfer that might cost $500-1,000 through banks can be completed for under $10 using stablecoins.

Traditional banks face a more complex picture. While they risk losing lucrative cross-border payment fees, many are exploring partnerships with stablecoin providers rather than fighting the trend. The key question is whether they can adapt fast enough to remain relevant in the new ecosystem.

Stripe was valued at $159 billion in a recent tender offer, reflecting investor confidence in the digital payments transformation.