The report Stablecoins in Commerce, released on November 10, 2026, marks the start of the Money in Motion series by Glassnode and NOWPayments. It analyzes on-chain data alongside merchant payment records to guide businesses on asset and network selection.
Data from January to July 2026 shows that SaaS and e-commerce companies comprised 55.54% of NOWPayments' classified partners, up from 48.26% the previous year. This shift highlights a growing reliance on stablecoins for digital services and online retail.
USDT on the TRON network remains the dominant force in e-commerce, accounting for 54.58% of successful payments. While USDT maintained a 66.92% share of total transaction volume on the platform during the first half of 2026, its volume share declined by 14.99%.
In contrast, USDC is gaining significant traction in transaction frequency. The number of USDC transactions on the platform increased by 209.02% year-over-year. This indicates that while USDT handles larger volumes, USDC is becoming a preferred choice for smaller, more frequent payments.
