Businesses now use crypto as operational capital, CoinGate data reveals a structural shift

CoinGate, a global crypto payment processor, has released its 2025 yearly data report, revealing a shift in how businesses use crypto payments. While overall transaction volumes adjusted during the year, the data shows crypto becoming increasingly embedded in business operations, from settlements and treasury management to payouts and automation.

In 2025, CoinGate processed 1.42 million crypto payments, bringing the platform’s total processed volume to over seven million payments since launch. Transaction activity adjusted during the year primarily due to the phased discontinuation of USDT, which had a direct impact on checkout volume. Rather than signaling weakening demand, the data points to a structural reset, with usage shifting toward fewer, higher-value transactions and more predictable payment patterns.

Bitcoin reclaimed its position as the most-used cryptocurrency on CoinGate, accounting for 22.1% of all payments and overtaking USDT. Stablecoins continued to play a significant role, representing 29.8% of all payments, though their composition changed decisively. USDC emerged as the dominant stablecoin, with order volume increasing by 1264% year-over-year, as businesses adapted to regulatory changes and prioritized predictable, compliant assets. Litecoin strengthened its position as the third most-used cryptocurrency, reaching a 14.4% payment share.

Stablecoins move into the core of merchant operations

Beyond checkout activity, merchant behavior highlighted one of the most significant shifts of the year. 25.2% of all payments were settled in stablecoins, up from 16.7% in 2024, while overall crypto settlements increased from 27% to 37.5%. USDC stood out as a core operational asset, with its settlement share rising from 0.01% to 12.6% year-over-year. For many merchants, crypto is no longer treated as a pass-through payment method, but as operational capital used for holding value, treasury management, and outbound payments.

This shift at the merchant level mirrors a broader market-wide development. As previously reported by TechGaged, stablecoins’ share of the total crypto market hit an all-time high of 10.19% in early 2026, breaking through a ceiling that had historically capped stablecoin dominance between 7% and 9.8%, even during periods of rapid growth.

The milestone came just three months after stablecoin market capitalization surpassed $300 billion, underscoring how these assets are increasingly used not just for trading or short-term parking of funds, but as core financial instruments for value storage, payments, and liquidity management across the crypto economy.

USDC emerges as the default currency for automated crypto payouts

Payout data further reinforced this trend. USDC accounted for 83.4% of all payouts in 2025, reflecting its role as the preferred currency for outbound payments. CoinGate’s FX payout functionality allowed merchants to convert funds from existing balances, including fiat, into crypto at the moment of payout, with 85.4% of EUR-based payouts converted directly into USDC. Once converted, 96.8% of USDC payouts remained in USDC, indicating limited asset switching and a clear preference for operational stability.

Automation became the standard execution model. 85% of merchants executed payouts via API, embedding crypto payouts directly into business workflows rather than handling them manually. This shift highlights how crypto payments at CoinGate have moved beyond experimentation and into production-grade financial infrastructure.

In 2025, CoinGate also obtained authorization under the Markets in Crypto-Assets (MiCA) framework from the Bank of Lithuania. The license places CoinGate within a unified European regulatory regime and provides businesses with greater legal clarity when operating crypto payments and payouts across borders.

Taken together, CoinGate’s 2025 data shows a market entering a more mature phase. Crypto payments did not disappear — they became more operational, standardized, and embedded into how businesses manage money.