Business-to-business transactions and card-linked stablecoin payments have grown, while Tether’s USDt has established dominance. Stablecoins are gaining ground as a reliable tool for digital payments. New data from Artemis shows that $94.2 billion in stablecoin transactions were settled between January 2023 and February 2025. The report shed light on a few specific rising areas for stablecoin payments. Business-to-business transactions made up the largest block, accounting for an annual run rate of $36 billion. Card-linked stablecoin payments have also grown, jumping above $13.2 billion in annual volume. “Overall, stablecoins have established themselves as growing and significant components of the global payment infrastructure,” the report notes. Read more
The SEC and Binance have filed a joint motion to end a nearly two-year legal battle in the agency’s latest backdown from its prior crypto enforcement actions. The US Securities and Exchange Commission will drop its long-running lawsuit against crypto exchange Binance in the regulator’s latest backdown from policing the crypto industry. A joint motion filed on May 29 by the SEC, Binance and its co-founder Changpeng Zhao asked a Washington, DC, federal court to allow the regulator’s complaint that it filed in June 2023 to be dismissed. The motion mentioned the SEC’s Crypto Task Force “might impact and facilitate the potential resolution of this litigation” and that the regulator believed dropping the suit was appropriate “in the exercise of its discretion and as a policy matter.” Read more
The news comes at a time when many banks are considering issuing their own private stablecoins. Banco Santander SA, a global banking institution, is considering expanding crypto services to retail clients and potentially launching a stablecoin product. The stablecoin plans are still in the early phases. According to a May 29 Bloomberg report, the bank is considering offering both dollar and euro-pegged fiat tokens. Large banking institutions, including JPMorgan, Bank of America, Citigroup and Wells Fargo, are reportedly looking into launching stablecoins, following an industry-positive regulatory shift in the United States under US President Donald Trump. Read more