Binance, a leading global cryptocurrency exchange, has announced that its payment service, Binance Pay, has expanded to over 20 million merchants worldwide. Stablecoins now constitute more than 98% of its business-to-consumer (B2C) payments in 2025. This information was shared in a blog post on Binance’s website.
According to Binance, the adoption of Binance Pay has reached a new level, with the number of merchants accepting crypto payments through the service increasing from just 12,000 at the start of 2025 to over 20 million within ten months. This represents a significant growth across regions including Latin America, Africa, Europe, the Middle East, and Asia. The surge reflects an increasing demand for faster and lower-cost digital payment options among both online and offline businesses.
A dataset compiled by Artemis indicates that stablecoins are increasingly being used for real-world payments. Between January 2023 and August 2025, Artemis identified $136 billion in genuine payment flows after excluding trading and decentralized finance (DeFi) activities. On this basis, “real-economy” stablecoin payments are currently running at an annualized pace of approximately $122 billion globally. This trend is driven by businesses and consumers utilizing dollar-pegged assets for quicker and more cost-effective settlements.
Research cited by Binance underscores the rapid scaling of stablecoin payment volumes. Data from Artemis shows that monthly stablecoin payments surpassed $10 billion by August 2025, marking an increase of over 80% since the beginning of the year. This growth highlights how dollar-pegged digital assets are becoming a preferred method for fast and low-cost cross-border settlements.
Binance remains the world’s largest cryptocurrency exchange by trading volume and user base. Its spot and derivatives activity frequently exceeds hundreds of billions of dollars in daily turnover. Market data reveals that Binance serves well over 200 million users globally and lists hundreds of digital assets as part of its ecosystem, which includes services like Binance Pay, Earn, Academy, among others.
