2025 Review: Stablecoins, Onchain Cards and B2B Payments

8 snips

Dec 29, 2025

Join Anthony Yim, Co-founder of Artemis Analytics and former Venmo engineer, alongside Andrew Van Aken, Chief Data Scientist at Artemis, as they dive deep into the future of stablecoins. They explore the explosive rise of stablecoins, dissecting the massive growth of Tether and PayPal's PYUSD. The discussion also touches on the challenges of stablecoin payment adoption and the role of low-cost blockchains like Solana. With insights on B2B traction and prediction markets driving transactions, this conversation offers a fascinating look at the evolving digital finance landscape.

Ask episode

AI Snips

Chapters

Transcript

Episode notes

INSIGHT

Explosion In Stablecoin Issuance

The number of stablecoins >$10M supply jumped from ~60 to over 140 in 2025, showing an acceleration of issuance.
Most new stablecoins are USD-denominated and many announced coins are not yet live, so growth likely continues.

INSIGHT

Stablecoin Is A Misleading Blanket Term

Many assets called 'stablecoins' are different products like on-chain collateral receipts or yield-bearing tokenized deposits.
Simon Taylor suggests subdividing categories because usage and expectations differ widely across these products.

INSIGHT

Dollar Dominance Persists

93% of stablecoins above $10M supply are USD-denominated, showing dollar dominance.
Non-USD stablecoin supply remains a small fraction, pointing to demand for dollar liquidity.

Get the Snipd Podcast app to discover more snips from this episode

Get the app

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

***

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