The three major scenarios of stablecoins—Trade, Earn, and Payment—are interconnected. In 2025, the nominal trading volume of stablecoins is $300 billion, but only about 25% of that is actual real fund flows being scheduled, primarily within Trade and Earn scenarios, indicating strong financialization rather than monetization. According to Artemis' report, as of August 2025, the annualized operation rate of B2B stablecoin payments is approximately $78 billion, with a growth rate of about 100%. Behind this is large enterprises accelerating the application scale of stablecoins, with a strong demand for stablecoins in cross-border settlement, supplier payments, treasury management, and other scenarios.

In fact, these large enterprises need more than just stablecoins; they require a comprehensive on-chain settlement compliance solution for their entire fund flow. Yesterday afternoon at the No Ramp event in Hong Kong, @osldotcom announced the launch of stablecoin #USDGO @usdgo_official. This is a strong attempt by OSL Group, which has robust On/Off-Ramp compliance capabilities, beyond OSL Pay. But the core is not just the form of stablecoins; it focuses on the real needs of enterprise clients, providing liquidity and settlement capabilities for compliant global on-chain financial infrastructure. OSL Pay is a Payment Accelerator Partner of @MorphNetwork, and we are actively integrating USDGO for on-chain clearing and settlement.

$USDGO is issued by Anchorage Digital Bank, regulated by U.S. federal authorities, pegged 1:1 to the US dollar, and offers bankruptcy isolation and federal regulatory compliance. The BizPay product connected to USDGO helps enterprises manage on-chain and off-chain fund flows uniformly, enabling real-time settlement across multiple markets, time zones, and currencies. Enterprises can have a main account with up to 50 sub-accounts to handle marketing, payroll, and user settlements, among other fund flows and calls, without relying on multiple banks or intermediaries. This effectively solves pain points.

What kind of enterprises use stablecoins for payments? Those with high-frequency cross-border settlement needs—slow settlements can stall business, expensive settlements reduce profit margins, and 24/7 availability of funds is necessary. Especially when doing business in countries with underdeveloped financial infrastructure, many cross-border trading companies are constrained by high fiat currency volatility and foreign exchange controls, forcing them to adopt stablecoin payments, such as in Brazil, Nigeria, and other regions in South America and Africa. Of course, some industries with sensitive funds and strict risk controls are not the main battlefield for compliant stablecoin payments. Overall, the first two types of enterprises are upgrading their Treasury Plumbing, making cross-border fund flows faster, cheaper, and more stable.

This may be a bear market for crypto, but I see a bull market for crypto payments. To that end, both OSL and Morph are steadfastly moving toward payments—this is a highly certain future. Stablecoins are proving their value through USD Go Go Go! LFG💚