Stablecoins have quietly evolved from a way to buy crypto into essential business infrastructure. New data from NOWPayments shows that companies are increasingly using USDT and USDC not just to accept payments, but to move money throughout their entire operations, from affiliate commissions and supplier settlements to payroll and marketplace payouts.

How Are Businesses Actually Using Stablecoins Today?

The shift represents a fundamental change in how stablecoins fit into the business world. Instead of converting every incoming crypto payment into traditional currency, many companies now keep operating funds in stablecoins and use them directly for day-to-day settlements. This approach cuts out intermediaries and speeds up transactions that might otherwise take days through traditional banking channels.

• Affiliate and Referral Commissions: Companies pay partners directly in stablecoins without waiting for bank transfers or payment processors.
• Supplier and Contractor Payments: Businesses settle invoices with vendors using USDT or USDC, enabling faster cash flow for both parties.
• Marketplace Seller Withdrawals: Platforms let creators and sellers withdraw earnings instantly in stablecoins rather than waiting for monthly payouts.
• Payroll for Distributed Teams: Remote workers receive salaries in stablecoins, which they can convert locally or hold as needed.
• Creator and Influencer Payouts: Content platforms automate payments to creators without traditional payment intermediaries.
• Treasury Transfers: Finance teams move working capital between accounts and entities using stablecoins for settlement speed and cost efficiency.

Which Stablecoin Is Winning, and Why Does It Matter?

The data reveals a clear divergence between scale and momentum. USDT, issued by Tether, remains the dominant stablecoin by transaction volume, accounting for 66.92% of all stablecoin transaction volume on NOWPayments in the first half of 2026. However, USDC, issued by Circle, is growing significantly faster from a smaller base. In the same period, USDC transaction count increased 209.02% year over year, while transaction volume rose 101.63%.

USDT's dominance reflects its global scale and liquidity. Despite declining 1.55% in transaction count and 14.99% in transaction volume compared to the first half of 2025, USDT continues to handle the vast majority of high-value business transfers. The fact that USDT accounts for 66.92% of transaction volume but only 41.32% of transaction count suggests that businesses rely on it for larger settlements.

USDC's explosive growth, meanwhile, reflects a different strategic advantage. The stablecoin is gaining traction particularly among companies navigating Europe's regulatory environment. USDC's share of stablecoin transaction count grew from 2.88% in 2025 to 4.94% in 2026, while its share of transaction volume rose from 5.52% to 8.95%.

Why Are Regulatory Rules Reshaping the Stablecoin Landscape?

The divergence between USDT and USDC reflects more than just growth rates; it reflects how regulation is reshaping business infrastructure. Europe's Markets in Crypto-Assets Regulation, known as MiCA, has created a clearer regulatory pathway for USDC. While MiCA does not prohibit businesses or individuals from holding or transferring USDT, regulated exchanges, custodians, payment providers, and other crypto asset service providers may apply restrictions based on their own compliance obligations.

For global operations, USDT's liquidity and broad ecosystem support remain significant advantages. For businesses focused on Europe, USDC's regulatory positioning can make it easier to integrate with regulated crypto infrastructure. For companies operating across both environments, supporting both assets provides greater flexibility.

How Do Blockchain Networks Factor Into Stablecoin Strategy?

Stablecoin choice is only part of the infrastructure decision. Businesses also select networks based on transaction costs, settlement speed, recipient compatibility, and ecosystem support. On the NOWPayments platform, companies can process stablecoin transactions across multiple blockchain networks, including TRON, Ethereum, BNB Smart Chain, Polygon, Base, and Arbitrum.

This multi-network approach allows businesses to optimize for different use cases. A company paying suppliers in Asia might choose TRON for its low costs, while a European business might prefer Ethereum or Polygon for compatibility with regulated infrastructure. The ability to move the same stablecoin across multiple networks gives businesses flexibility to adapt to their specific operational needs.

The emerging stablecoin market is defined by two different strengths rather than a clear winner. USDT remains the scale leader, but USDC's momentum suggests a future where businesses choose infrastructure based on their specific market and regulatory environment rather than defaulting to the largest player.