Ethereum Stablecoin Shift: B2B Volume Jumps 156%, P2B Payments Up 167%

Ethereum-based stablecoin transfers are evolving from peer-to-peer use toward a role as a settlement layer for business payments and consumer spending. New research from Company Artemis shows that while most transfers by count still occur between individuals, the majority of value now flows through wallets linked to companies, signaling a potential shift in how firms leverage blockchain rails for real economic activity.

The Artemis study, which analyzed transfers from August 2024 to August 2025 on the Ethereum chain that hosts nearly half of global stablecoin supply, separated transactions into personal and business-related categories. Its headline findings are striking: person-to-person (P2P) transfers accounted for 67% of transaction count but only 24% of dollar volume. By contrast, business-involved payments — including business-to-business (B2B) and person-to-business (P2B) flows — represented the bulk of value moved on-chain.

Key metrics show a rapid institutionalization of value on Ethereum: B2B payment volume rose 156% year-over-year and the average transaction size increased by 45%, implying that entities are moving larger sums even if they are not transacting more frequently. Meanwhile the fastest-growing segment was P2B payments, which expanded by 167%, a sign that consumer spending directed at merchants and services is increasingly settling with stablecoins.

Commenting on the trend, Mr. James, Head of Ecosystem at Company Ethereum Foundation, noted on social media that "institutions aren't sending more payments. They're sending bigger ones." That succinct observation underlines the idea that demand is shifting toward transactional and settlement use cases rather than purely speculative activity.

The report adds broader context: Company Tether (USDT) has added more supply this year than the next five issuers combined, and on-chain B2B payments reached an annual run rate approaching $77 billion. These numbers reinforce the view that firms are increasingly trusting blockchain rails for real transactions. Yet the dataset also highlights concentration risks: roughly 84% of stablecoin volume is concentrated in the top 1,000 wallets, indicating that large players still dominate flows and raising questions about how decentralized these commercial uses truly are.

Market-price context remains relevant. Ethereum's native token traded just under $3,000 at the time of the report, down 2.5% over 24 hours, up slightly over 1% in seven days, down 5% over two weeks, yet still 5.5% higher than 30 days prior and more than 40% below its August all-time high near $5,000. Analysts quoted in the research and market commentary say that increasing stablecoin payment use could be a durable demand driver for Ethereum, anchoring value in infrastructure utility rather than price speculation cycles.

In sum, the Artemis findings — summarized and reported by Company CryptoPotato — point to an expanding role for Ethereum as financial plumbing: a network increasingly used for higher-value corporate settlements and growing consumer-to-business payment flows. If current trends persist, Ethereum's long-term value proposition may hinge more on its capacity as a settlement layer for a digital economy than on short-term price momentum.