Report: Tether and Tron Dominate Stablecoin Payment Market, Circle in Catch-up Mode

Artemis, in collaboration with Dragonfly and Castle Island Ventures, released a report indicating that in the stablecoin payment market, Tether (USDT) accounts for 90% of the transaction volume, with Tron being the preferred settlement network, accounting for approximately 60%. By February 2025, the annualized scale of payment data is expected to reach $72.3 billion. Although Circle's USDC is in a catch-up phase and is also eating into the market share, it is far less prevalent than USDT in payment scenarios, particularly in emerging markets like Argentina and Brazil, where it is widely regarded as a substitute for the US dollar. (CoinDesk)