The crypto market can be volatile, with coins and tokens like BTC radically changing value within hours or even minutes. To touch on just two examples, in 2024 Bitcoin flipped silver and rose nearly 30% within just one week, while Ethereum lost nearly half its value in Q2 of 2025. This kind of value fluctuation can be tough for businesses, which is why most choose to use the most popular stablecoins for payments.
Stablecoins are cryptocurrencies pegged to established assets to maintain value. The most common peg is to fiat currencies like the USD, to maintain a value as close as possible to $1. This year, stablecoins have outpaced Visa and Mastercard networks in terms of raw value transfer, with major institutions like JP Morgan actively pursuing their use in finance.
Top 5 most popular stablecoins
Top stablecoins for business based on adoption are Tether (USDT), USD Coin (USDC), Dai (DAI), TrueUSD (TUSD), and PayPal USD (PYUSD). Here’s a detailed comparison (scroll horizontally to see all data):
| Stablecoin | Asset Description | Compliance | Liquidity & Market Cap | Security | Business Use Case |
| 1. USDT (Tether) | Launched by Tether Ltd. in 2014 as a fiat-collateralized currency. Pegged 1:1 to the US dollar. Currently holds roughly 60% of the stablecoin market. | Not formally regulated in the US, faced scrutiny over transparency in the past. While in the regulatory gray zone across many jurisdictions, Tether attests to liquidity and publishes monthly reports. | Highest liquidity of all stablecoins and the largest market cap (~$160B in 2025). USDTs are available on almost all exchanges. Deep markets on multiple blockchains from Ethereum to Tron with vast availability of tokens. | Third parties attest reserves held in cash & equivalents but Tether has never faced public government audits. Security relies on trust in their reserve management, operational track record, and security of the Blockchain on which its tokens are issued. | Useful for day-to-day payments and cross-border B2B transfers. Businesses use Tether to automatically exchange other crypto into fiat and back due to its high availability. |
| 2. USDC (USD Coin) | Launched by Circle in 2018 as a fiat-collateralized currency. Pegged 1:1 to the dollar, it’s the second most popular cryptocurrency holding 20-25% of the stablecoin market. | Highly regulated – backed by cash and US treasuries and releases weekly reserve updates. Regulated under US trust laws and became the first stablecoin to achieve MiCa compliance in the European Union. | Second most liquid stablecoin (~$40-60B supply) with high liquidity on and off exchanges. Favored for institutional trading and available across Blockchains similarly to USDT. | Reserves are held by US-regulated financial institutions and undergo independent audits. Circle has established reserve mechanisms. | Popular for B2B payments, holding crypto dollars on balance sheets, and lending/borrowing. For EU-based businesses, USDC is the most popular treasury choice due to its MiCa compliance. |
| 3. PYUSD (PayPal USD) | Launched by Paxos Trust, branded by PayPal in 2023. 1:1 USD-backed with dollar deposits, short-term treasury securities, and cash equivalents. | Issued under NYDFS oversight, aligning with reserve and audit requirements. PayPal’s involvement adds mainstream credibility to this stablecoin. | Because it’s only been on the market for 2 years, PYUSD’s circulation is smaller (~$300-500 million USD in 2025). However, PYUSD leverages PayPal’s network and is listed on various exchanges with high access to liquidity. | Reserves held in US banks and treasuries via Paxos. Smart contract audited by third parties. Redemption through PayPal adds extra financial backing but also makes it rely on the platform’s security. | Fit for businesses already using PayPal or seeking to bridge traditional finance with crypto. Suited for e-commerce settlements, remittances, and payouts. |
| 4. TUSD (TrueUSD) | Launched by TrueCoin/Techteryx in 2018, TUSD is 1:1 USD-backed via trust accounts held by third parties in escrow. | Provides real-time reserve attestations, with funds held in escrow on specific banks. Users can directly redeem 1 TUSD for $1 through the token issuers. | After 2023, TUSD saw increased circulation (~$200-400) on major exchanges like Binance, largely due to lending platforms. It’s widely accessible on the crypto market, but isn’t used by mainstream organizations. | Regulated custodians hold reserves in USD; third-party firms make monthly attestation reports to verify 100%+ backing. Smart contracts are audited, while escrow arrangements are used as a backbone of security. | Often used in exchange markets as an alternative to USDT/USDC, and by payment processors that require fully vetted reserves. It’s the less popular business choice, mostly reserved for niche use cases. |
| 5. DAI (Dai) | Launched in 2017 on the MakerDAO protocol, a decentralized organization. Collateralized by crypto assets, leveraged to keep its value as close to $1 as possible. | All reserves (ETH, USDC and other crypto) are visible on the blockchain, which makes all loans and assets trackable. DAI is governed by a decentralized community and protocols, which makes it unique in this lineup. | DAI’s market cap is significantly smaller than the top of this list ($5-10B range), but it has sufficient liquidity across platforms and exchanges. In the context of traditional finance platforms and business, however, it’s a less popular choice. | Maintains USD peg via over-collateralization and automated smart contracts. Regularly audited smart contracts; no single issuer holding reserves. Subject to crypto market risks and protocol governance decisions made by the community. | Out of all the options, DAI requires the highest understanding of crypto risks. Mostly used by businesses looking for a stablecoin without centralized custody. |
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How to choose the right stablecoin
General list of ways to mitigate any potential stablecoin volatility and audit risk:
- Transaction volume & liquidity: Consider the scale of crypto transactions your business will process. For large transfers or high-frequency trading, liquidity is incredibly important. High liquidity means you can quickly convert coins and tokens into fiat without any difficulties. There’s rarely a reason not to accept popular and compliant stablecoins like USDC, as you can easily cash them in for fiat if necessary.
- Geography & regulation: Your jurisdiction and banking may influence the stablecoin you choose. This is particularly important for European businesses where MiCA regulations demand rigorous reserve standards, causing some platforms to limit support for USDT – making USDC a good choice for EU-based businesses. It varies in other parts of the world – markets in Asia or Latin America often lean towards USDT for its local popularity.
- Counterparty risk: this is the chance that the stablecoin issuer or protocol fails to honor redemptions. Reserve transparency and audits are important here – USDC and other fully audited stablecoins make reports to prove assets, reducing risk for users. When opting for an algorithmic or crypto-backed coin, you have to look at the protocol risk. For example, DAI’s stability depends on smart contracts and collateral – it’s harder to establish, especially for a business new to crypto. That’s why sticking to popular coins is a good idea for less experienced users.
- Technical integration: Think about where and how you’ll use the stablecoin. Your coin needs to be supported by the wallet, payment gateways, and exchanges. At Cryptoprocessing, we noticed that over 90% of consumers only use a handful of popular coins. Our Business Wallet is a good way for most businesses that want to get started with a low-tech solution.
- Fees, exchange, redemption: Sending USDC on Ethereum might cost a few dollars in gas, whereas the same coin on Tron may cost just a couple cents – so the choice of network matters for cost, especially if you are dealing with a large volume of payments. Spreads on exchanges can also affect how much you get when selling the stablecoin for fiat – highly liquid coins like USDT/USDC tend to stay closest to $1.00, whereas a less traded coin might occasionally dip below peg until arbitrage corrects it. If you plan to frequently convert stablecoins to fiat bank payouts, consider an automatic solution like a crypto payment gateway.
- Future-Proofing: The stablecoin landscape is rapidly evolving. In the US, for example, stablecoin-specific laws are being proposed that could require issuers to be banks or hold certain collateral standards. Choosing a stablecoin from an issuer with a strong regulatory track record (like those under NYDFS oversight or major financial institutions) can position your business ahead of these changes. Stay flexible – use stablecoins that are consistently updating their compliance and tech, such as Circle’s USDC and its record-fast compliance with MiCa.
Summary: where to start with stablecoins for your business
I always use this analogy when business owners feel overwhelmed – getting paid in crypto and exchanging it to stablecoins is the same as getting paid in Japanese yen and trading them for US dollars. Any business can integrate Cryptoprocessing, get paid in Bitcoin, and redeem USD without holding crypto on accounts. There are many different options, but the result is getting the payment from your crypto-savvy customers to you.
While we listed a lot of factors earlier, which stablecoin is best for your business depends mostly on 3:
- Compliance. Some stablecoins are more regulated and better audited than others. This is particularly relevant for EU-licensed businesses. While Tether USDT is arguably the most popular stablecoin in the world, it’s not MiCa-compliant, forcing most European businesses to opt for Circle’s USDC instead.
- Audience fit. Different stablecoins operate on different blockchains and are supported by wallets, exchanges, and payment processors. If you use CryptoProcessing, crypto payments you receive from customers can be automatically exchanged into a coin of your choice. In the end, your choice of stablecoin will depend on how widely accepted it is by the public.
- Liquidity. The ease of converting a stablecoin to cash or other crypto. A liquid coin can handle B2B volumes with minimal slippage. That said, any coins in the top 5 are partly there due to their high liquidity, so this consideration is only important if you’re looking outside the mainstream.
You can tackle most problems by basing your choice of stablecoin on your company’s risk profile. Ironically, the list of top 5 stablecoins of 2025 is volatile – new contenders are fighting for market share every day, the landscape is evolving as financial giants like BlackRock are joining it with their own solutions.
It’s why at CryptoProcessing we adapt to the needs of business and your audience. Our goal is to help you accept the crypto your audience wants to use right now, safely and legally. Specific coins and tokens will differ from jurisdiction to jurisdiction, but the principle remains the same.