P2P Payments Dominate Stablecoin Use on Ethereum
67% of stablecoin transactions on Ethereum are P2P, highlighting growing personal crypto adoption.
- P2P makes up 67% of stablecoin transactions by count
- P2P has smaller volumes but broad user adoption
- Ethereum stablecoins are seeing diverse payment use cases
Peer-to-peer (P2P) stablecoin payments have emerged as the most common form of transaction on Ethereum, according to recent insights from James, Head of Ecosystem at the Ethereum Foundation. These transactions—where users send stablecoins directly to one another—account for 67% of all stablecoin transactions on Ethereum by count.
While the number of P2P transactions is dominant, the transaction volume is relatively small, making up only 24% of total volume. This suggests that Ethereum users are actively using stablecoins for everyday, lower-value transfers—showing clear signs of growing grassroots adoption.
Stablecoin Usage Shows Evolving Payment Behavior
Despite their smaller size, the sheer volume of P2P transactions shows how stablecoins are becoming a regular tool for personal and informal payments. This includes remittances, small transfers between friends or family, and peer-to-peer commerce. It reflects a shift from speculation to practical, utility-based crypto usage.
Meanwhile, business-focused transactions are rising in volume. Business-to-business (B2B) stablecoin volume grew by 156% over the past year, and person-to-business (P2B) transactions—like consumer payments to merchants—rose by 167%. These trends show stablecoins are finding use across both consumer and commercial sectors.
Ethereum Powers the Future of Everyday Crypto Payments
The growing use of P2P stablecoin payments signals that Ethereum is becoming a financial network not just for institutions and traders, but for everyday users. With low transaction sizes and high frequency, stablecoins on Ethereum are increasingly being used for the same purposes as traditional money.
As blockchain infrastructure continues to improve, it’s likely that these trends will deepen. Ethereum may soon support millions of users making P2P payments globally, using stablecoins as fast, borderless, and low-cost money.
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