Stablecoin issuance is no longer reserved for crypto giants. Companies across industries are now launching their own dollar-pegged tokens, a shift driven by explosive growth in business-to-business (B2B) stablecoin transactions and the emergence of infrastructure providers that handle the regulatory and technical complexity. Mosta, an AI-native business banking platform, launched MainUSD in June 2026, joining a growing wave of branded digital dollars designed to simplify cross-border payments and settlement.

What's Driving the Stablecoin Explosion Beyond Tether and Circle?

The numbers tell the story. B2B stablecoin flows grew more than 700% to over $3 billion per month by the end of 2025, according to data compiled by Reap. Total stablecoin payment volume hit roughly $390 billion in 2025, more than double the year before. While Tether's USDT (Tether USD) and Circle's USDC (USD Coin) still account for more than 80% of the total $321 billion stablecoin supply, the market is fragmenting as new entrants see an opportunity to own the dollar flow within their own systems.

The shift reflects a fundamental change in how institutions view stablecoins. Unlike the retail crypto trading boom of previous years, current adoption is driven by real-world use cases. "There's somewhat of a crypto winter happening in terms of just retail buying and selling of crypto," explained Sami Start, of the on-ramp firm Transak. "But the stablecoin adoption is orthogonal to that, and institutions are just adopting stablecoins for real-world use cases at the moment, and that's why we're seeing it grow".

"Global businesses should not have to choose between the speed of stablecoins and the usability of traditional financial rails," said Denis Spasio, Mosta's co-founder, in the announcement.

Denis Spasio, Co-founder at Mosta

How Are Companies Building Their Own Stablecoins Without Starting From Scratch?

The infrastructure layer has become the key enabler. Companies like Brale, founded by Dwolla veteran Ben Milne, now provide the hard parts that previously required building from the ground up. Brale handles reserve management, compliance, and issuance infrastructure, allowing clients to launch branded stablecoins without managing these complex functions independently.

• Reserve Management: Brale maintains and attests to the reserves backing each stablecoin, publishing monthly attestations to ensure transparency and regulatory compliance across jurisdictions.
• Regulatory Licensing: Brale operates as a registered money services business across 45 U.S. jurisdictions and works with licensed partners in Europe, the Middle East, and Asia to navigate complex international requirements.
• Technical Issuance: The platform handles the blockchain-side token creation and management, allowing companies to focus on customer experience rather than infrastructure engineering.

MainUSD is designed to fit the GENIUS Act, the federal payment-stablecoin law signed in July 2025, whose implementation rules are still being written and are not expected to take full effect until late 2026 or early 2027. This regulatory clarity has accelerated the timeline for new entrants.

"We built Brale to make it easy for companies like Mosta to launch their own stablecoins without having to build reserve management, compliance, and issuance infrastructure from scratch," said Chase Merlin, Brale's head of product.

Chase Merlin, Head of Product at Brale

Who Else Is Building Stablecoin Infrastructure?

The trend extends far beyond Mosta. MoneyGram launched its own MGUSD coin in June 2026, issued through Stripe's Bridge. Mastercard agreed to acquire BVNK, a stablecoin infrastructure firm, for as much as $1.8 billion. Stripe, Circle, Visa, and PayPal are all building their own settlement rails to move stablecoins across networks and into traditional banking systems.

The bigger challenge, however, is not minting the token but synchronizing blockchain transactions with real-world fiat payouts. "The on-chain leg has to synchronize with the off-chain leg, which is the fiat part where payouts are happening," explained Raj Kamal, co-founder and chief executive of cross-border payments firm TransFi. That off-chain leg is where banking licenses and partnerships live, and it remains the bottleneck for most new entrants.

"License is just the ten percent of the effort, another ninety percent is the partner work," said Anton Lobintsev, founder of SquareFi, Mosta's parent company.

Anton Lobintsev, Founder at SquareFi

Does Issuing a Stablecoin Actually Change Banking?

Not everyone is convinced that a flood of branded dollars will revolutionize finance. Stablecoins still account for only about 1% of global cross-border payment flows, a tiny fraction of the $150 trillion global payments market. Some skeptics argue that issuing a stablecoin is simply repackaging existing financial infrastructure rather than reimagining it.

"Everyone's taking the easy way out in the Web3, Web2 world today," observed Neo, chief executive of the onchain neobank UR. "Easy USDC stablecoins, you issue a card, suddenly you're a neobank and you can spend, and it's very cool. But structurally at its core, nothing's really changing".

Proponents counter that owning the dollar flow within a system represents a fundamental shift in economics. Rather than paying fees to intermediaries, companies that issue their own stablecoins capture the spread and control the user experience. Mosta's pitch includes swaps that can go down to zero fees depending on the plan, and the platform already supports USDT and USDC, with the euro coin EURC said to be coming.

The real test will be whether these new stablecoins can move beyond niche use cases and into mainstream adoption. For now, the infrastructure is in place, the regulatory framework is taking shape, and the incentives are clear: own the dollar, or rent someone else's.