‍Enterprise data revealing why confidential settlement is the missing piece in the B2B stablecoin explosion

B2B stablecoin payments grew 730% year-over-year in 2025, signaling a fundamental shift in how enterprises settle cross-border transactions. Yet this explosive growth creates an equally massive problem: every settlement amount, every counterparty relationship, and every treasury movement broadcasts publicly on-chain. For PSPs, OTC desks, and treasury teams moving to stablecoin rails, the transparency that makes blockchain trustworthy also makes it a competitive liability. Hinkal addresses this gap by enabling confidential settlements that shield sender identity, recipient identity, and transaction amount — while maintaining the speed and cost advantages driving enterprise adoption.

Key Takeaways

• B2B stablecoin volume now dominates the market — 60% of total stablecoin payments ($234 billion) come from business-to-business transactions
• Adoption is accelerating rapidly — 54% of non-users expect to adopt stablecoins within 6-12 months
• Cost savings are substantial — 41% of organizations report at least 10% cost reduction, primarily in cross-border settlements
• Cross-border payments lead use cases — 70% of financial institutions cite cross-border payments as their top stablecoin application
• Regulatory clarity drives confidence — 88% of North American firms view stablecoin regulation as enabling growth
• Infrastructure readiness is high — 86% of firms report their systems are ready for stablecoin adoption
• Third-party providers are essential — 79% of financial institutions plan to leverage third-party providers for stablecoin settlement

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The Rise of Stablecoins in B2B Transactions: Key Growth Metrics

1. B2B stablecoin payments grew 730% year-over-year in 2025

The Artemis and Stablecon Report documents 730% year-over-year growth in B2B stablecoin payments during 2025. This growth rate outpaces nearly every other financial technology category and signals that enterprises have moved beyond pilot programs into production-scale adoption.

2. Total annual stablecoin payments reached $390 billion in 2025

Annual stablecoin payment volume more than doubled to reach $390 billion in 2025, up from levels recorded in 2024. This volume represents real commercial activity — settlements between businesses, payouts to vendors, and cross-border treasury movements.

3. B2B transactions account for 60% of total global stablecoin payment volume

Business-to-business settlements now represent approximately $234 billion, or 60% of total global stablecoin payment volume. This concentration of volume in B2B channels makes enterprise confidentiality requirements more urgent than consumer privacy concerns.

4. Monthly B2B stablecoin volume surged from under $100 million to over $3 billion

Monthly B2B stablecoin volume experienced a 30-fold increase from early 2023 to 2025, climbing from under $100 million to over $3 billion per month.

5. Stablecoin market capitalization reached $300 billion in September 2025

Total stablecoin market cap hit $300 billion in September 2025, representing a 75% increase from the previous year.

Unmasking the Problem: Why Public Stablecoin Transactions Jeopardize B2B Operations

6. The United States receives $127 billion monthly in cross-border stablecoin flows

The US processes nearly $127 billion monthly in cross-border stablecoin payments — all publicly visible on-chain. Any competitor, analyst, or market observer can track these flows, map counterparty relationships, and estimate settlement volumes.

7. China processes $71 billion monthly in cross-border stablecoin payments

China ranks second globally with nearly $71 billion in monthly cross-border stablecoin settlements. Hong Kong adds another $51 billion monthly. For enterprises operating in these corridors, every settlement broadcasts sensitive commercial data to anyone watching.

8. 79% of corporates convert stablecoins to fiat immediately after transactions

The EY-Parthenon survey reveals that 79% of corporates convert stablecoins to fiat immediately post-transaction. This behavior reflects concern about on-chain exposure — the longer funds remain in a public wallet, the more data competitors can extract.

The implications are clear: enterprises gain the speed and cost benefits of stablecoin settlement but rush to exit the transparent environment. Hinkal Pay enables confidential stablecoin transfers where settlement occurs without exposing balances, counterparties, or wallet history — removing the urgency to convert to fiat for confidentiality reasons.

9. Stablecoins comprise 30% of all on-chain crypto transaction volume

TRM Labs reports that stablecoins now represent 30% of on-chain transaction volume. This concentration means nearly one-third of blockchain activity involves transparent stablecoin movements — creating a rich dataset for anyone analyzing commercial relationships.

Confidential Stablecoin Settlement: Protecting Your Business from On-Chain Exposure

10. 13% of financial institutions and corporates have used stablecoins globally

EY-Parthenon research shows that 13% of organizations have already used stablecoins, with financial institutions leading at 23% versus 9% for corporates. The gap between early adopters and the broader market creates competitive pressure — those not yet using stablecoins risk falling behind, while those already transacting face exposure risks.

11. 54% of non-users expect to adopt stablecoins within 6-12 months

More than half of organizations currently not using stablecoins expect to adopt within the next 6-12 months. This adoption wave will dramatically increase the volume of commercially sensitive data visible on public blockchains.

For enterprises planning stablecoin adoption, building confidential settlement into the workflow from day one prevents exposure before it begins. The Confidential Payments SDK enables integration of confidential settlement directly into existing payment rails without changing custody arrangements.

12. 90% of respondents are taking action on stablecoins

The Fireblocks State of Stablecoins survey found that 90% of respondents are either live, piloting, or actively planning stablecoin payment strategies. The question for these organizations is no longer whether to adopt stablecoins, but how to do so without exposing settlement data.

13. 41% of organizations using stablecoins report cost savings of at least 10%

Among organizations already using stablecoins, 41% reported cost savings of at least 10%, primarily in B2B cross-border payments.

Solving the Payment Service Provider (PSP) Dilemma: Private Settlement for Merchants

14. 70% of financial institutions cite cross-border payments as their top use case

Cross-border payments dominate stablecoin use cases, with 70% of institutions identifying it as their primary application. For PSPs settling with merchants across borders, this creates a direct confidentiality problem: settlement volumes, merchant relationships, and payment timing become visible to competitors.

PSPs settling merchant funds on public chains expose:

• Merchant economics and transaction volumes
• Counterparty relationships and merchant portfolios
• Settlement timing and operational patterns
• Customer payment behavior

The Confidential Payments SDK allows PSPs to send funds to a merchant's confidential balance inside Hinkal's smart contract. The merchant connects their existing wallet and sees the confidential balance — no merchant-side integration required.

15. 55% of corporates cite cross-border payments as their top stablecoin use case

Corporate adoption mirrors financial institutions, with 55% of corporates naming cross-border payments as their primary use case. This alignment between financial institutions and corporates means both sides of B2B relationships face the same exposure risks.

16. Card-linked stablecoin transactions surged 840% year-over-year in 2025

Card-linked stablecoin transactions experienced 840% year-over-year growth in 2025, indicating rapid integration of stablecoin rails into traditional payment flows. For card program managers, this growth means settlement activity increasingly broadcasts program volumes and partner relationships on-chain.

Beyond the Basics: Multi-Chain Confidentiality with Your Existing Wallet

17. 86% of firms report their infrastructure is ready for stablecoin adoption

The Fireblocks survey reveals that 86% of firms believe their existing infrastructure can support stablecoin adoption. This readiness means enterprises do not need to overhaul their systems — they need solutions that work with existing wallets and custody arrangements.

Hinkal operates across Ethereum, Solana, Tron, Polygon, Base, Arbitrum, Optimism, Arc, and Tempo without requiring network migration. Enterprises maintain existing custody and wallet setups while gaining confidential settlement capabilities. With over $400M in private on-chain volume processed, the approach is proven at scale.

18. 56% of corporates prefer embedded APIs within their current treasury platforms

More than half of corporates prefer embedded APIs that integrate directly with existing treasury platforms rather than standalone solutions. The Confidential Payments SDK addresses this preference by enabling developers to build confidential payment flows directly into existing applications.

19. 79% of financial institutions plan to leverage third-party providers for stablecoin infrastructure

Enterprise stablecoin adoption relies heavily on third-party providers, with 79% of institutions planning to use external providers for settlement. This creates an opportunity for confidential settlement providers to become embedded in enterprise payment workflows.

Compliance and Confidentiality: Meeting Regulatory Demands with Selective Disclosure

20. 73% cite regulatory uncertainty as a top barrier to stablecoin adoption

Regulatory uncertainty remains the largest obstacle to adoption, with 73% of organizations citing US and/or global regulatory clarity as a top concern. This makes compliance-ready confidentiality essential for enterprise adoption.

Hinkal addresses this through:

• Selective Disclosure via Viewing Keys — Full or partial transaction history can be revealed to auditors, regulators, or internal compliance teams on demand
• KYT Enforcement via Chainalysis — Flagged wallets are blocked at the deposit level, preventing tainted funds from entering
• Zero-Knowledge Verification — The Integrity Check for transactions over $1,000 uses zero-knowledge proofs via Reclaim Protocol, confirming verification status without revealing identity data

21. 88% of North American firms view stablecoin regulation as enabling growth

In North America, 88% of firms view emerging stablecoin regulation as growth-enabling rather than restrictive. This positive regulatory outlook makes compliance-ready confidentiality a competitive advantage rather than a compliance burden.

22. 38% cite accounting and tax treatment clarity as a barrier

Beyond regulatory uncertainty, 38% of organizations cite unclear accounting and tax treatment as an adoption barrier. Confidential settlement with selective disclosure enables enterprises to maintain clear audit trails for compliance purposes while protecting commercially sensitive data from public view.

No Setup Needed: The Frictionless Path to Private B2B Payments

23. 60% would consider stablecoins if 20% of vendors accepted them

The EY-Parthenon survey found that 60% of respondents would consider using stablecoins if at least 20% of their vendors accepted them. This network effect dynamic makes recipient-side friction a critical barrier to adoption.

Hinkal eliminates recipient-side setup entirely. The sender routes funds through Hinkal's smart contract into a confidential balance linked to the recipient's existing wallet. The recipient connects their existing wallet and sees the confidential balance — no migration, no new wallet, no integration required on the recipient side.

24. 70% would be more inclined to adopt if ERP integrations were available

Integration with existing enterprise systems matters significantly, with 70% of organizations indicating they would more readily adopt stablecoins if ERP integrations existed. This preference for embedded solutions over standalone tools reinforces the importance of minimal-friction implementation.

Regional Leadership: Where B2B Stablecoin Settlement Is Concentrated

25. Latin America leads with 71% using stablecoins for cross-border payments

Latin America leads global adoption with 71% of firms using stablecoins for cross-border payments. The region also shows 100% engagement in stablecoin payment strategies, with all respondents either live, piloting, or planning implementations.

Regional adoption patterns by activity level:

• Latin America: 100% taking action, 71% using for cross-border
• Asia: 53% adoption rate, 87% infrastructure readiness, 49% cite market expansion as primary driver
• North America: 88% view regulation as growth-enabling

For enterprises operating across these regions, confidential settlement becomes essential as transaction volumes increase and more competitors gain visibility into cross-border flows.

What These Statistics Mean for Enterprise Payment Operations

The data presents a clear picture: B2B stablecoin adoption is no longer speculative — it is production-scale and accelerating. The 730% year-over-year growth in B2B payments, combined with 90% of organizations actively pursuing stablecoin strategies, indicates that enterprises have moved past the question of whether to adopt stablecoins.

The remaining question is whether to broadcast every settlement to competitors and market observers, or to adopt confidential settlement from the start. For PSPs settling merchant funds, OTC desks executing bilateral trades, treasury teams moving capital between entities, and payroll platforms distributing salaries, the exposure risk grows with every public transaction.

Enterprises evaluating confidential settlement should consider:

• Current exposure level — How much commercial data is already visible on-chain?
• Competitive risk — What could competitors learn from analyzing settlement patterns?
• Compliance requirements — Do auditors and regulators need access without public disclosure?
• Recipient friction — Can counterparties receive confidentially without setup?

Request a demo to see how confidential settlement integrates with your existing stablecoin payment workflows.

Frequently Asked Questions

What are the primary risks of using public blockchains for B2B stablecoin payments?

Public blockchain transactions expose three critical data points: sender identity, recipient identity, and transaction amount. For B2B payments, this means competitors can map counterparty relationships, estimate settlement volumes, reverse-engineer pricing agreements, and track treasury movements. With $234 billion annual B2B volume now flowing through public chains, the exposure risk is substantial and growing.

How does Hinkal ensure transaction confidentiality without being a mixer?

Hinkal uses protocol-level confidentiality that shields sender identity, recipient identity, and transaction amount while maintaining compliance controls. Unlike mixers, Hinkal integrates KYT enforcement via Chainalysis to block flagged wallets at the deposit level, and provides selective disclosure via viewing keys that allow full or partial transaction history revelation to auditors, regulators, or compliance teams. Settlement remains publicly verifiable on the blockchain, but commercial relationships and financial details are protected.

Can businesses continue using their existing wallets and blockchain infrastructure with Hinkal?

Yes. Hinkal operates across Ethereum, Solana, Tron, Polygon, Base, Arbitrum, Optimism, Arc, and Tempo without requiring wallet migration or custody changes. The recipient connects their existing wallet and sees their confidential balance — controlled via their own private keys. Enterprises maintain their current custody arrangements while gaining confidential settlement capabilities.

What types of B2B operations benefit most from Hinkal's confidential payment solutions?

The clearest benefits apply to operations where transaction visibility creates competitive disadvantage: PSPs settling merchant funds (exposing merchant economics and volumes), OTC desks executing bilateral trades (revealing trade sizes and counterparty patterns), treasury teams rebalancing liquidity (broadcasting strategy), payroll platforms distributing salaries (exposing headcount and compensation), and any enterprise paying vendors or affiliates at scale. See institutional use cases for detailed workflow examples.

How does Hinkal's "no setup needed" approach benefit business partners and recipients?

Traditional confidential settlement requires both parties to integrate specialized tools or wallets. Hinkal eliminates recipient-side setup entirely: funds route through Hinkal's smart contract into a confidential balance linked to the recipient's existing wallet address. The recipient simply connects their existing wallet to access the balance. This removes the network effect barrier — senders can settle confidentially with any recipient on any supported chain without requiring counterparty coordination or migration.