Tether, Circle and PayPal supply growth

On Ep. 63 of Tokenized, Simon Taylor, GTM @ Tempo and Cuy Sheffield, Head of Crypto @ Visa, are joined by Anthony Yim, Co-Founder @ Artemis and Andrew Van Aken, Data Scientist @ Artemis to discuss stablecoins, onchain cards and B2B payments in their 2025 review.

Timestamps:

• 00:00 Introduction
• 04:44 Surge in number of stablecoins above $10 million supply in 2025
• 07:30 What qualifies as a stablecoin? Do we need new definitions?
• 15:11 Tether and Circle's massive supply growth and PayPal stablecoin surge
• 16:47 Blockchain scalability and the rise of low-cost chains like Solana
• 19:41 Tron's resilience and product-market fit in emerging markets
• 22:16 PayPal's PYUSD growth driven largely by DeFi, not payments
• 26:51 The current state and hurdles for stablecoin payment adoption
• 32:30 Prediction markets like Polymarket driving significant stablecoin transactions

Tokenized is sponsored by Visa

A world leader in digital payments, Visa is bridging the gap between traditional financial institutions and innovative blockchain networks, helping players in the payments ecosystem navigate the ever-evolving world of tokenized fiat currencies with confidence and ease. Learn more at visa.com/crypto.

Tokenized is presented by Bridge, a Stripe company.

Just like the internet made information global, stablecoins are making money global. And Bridge, a Stripe company, is the infrastructure powering that shift. Built for speed, scale, and simplicity, Bridge helps businesses send, store, convert, and spend stablecoins instantly, all without borders or having to navigate the complexities of crypto. Learn more at bridge.xyz

Tokenized is also presented by Fireblocks

With over $100 billion in monthly stablecoin volume, Fireblocks powers stablecoin strategies at scale with infrastructure that enables PSPs, fintechs, remitters and banks to issue, move, hold, and manage stablecoins. And it’s all done securely, at scale, and with built-in compliance. Learn more at fireblocks.com

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We’d also like to remind you that the views or opinions of our contributors today are their own and do not necessarily reflect those of the companies they are representing. Nothing we say should be taken as tax, financial, investment or legal advice, do your own research!

Music by Henry McLean