According to the latest annual report from cryptocurrency payment processor CoinGate, the platform processed 1.42 million crypto payments in 2025, equating to one transaction every 22 seconds. This brought the platform's total lifetime payments to over seven million. The data reveals a significant evolution in merchant behavior, with digital assets being used less as a simple payment option and more as operational capital for settlements, treasury management, and payouts.
Bitcoin (BTC) reclaimed its position as the most-used cryptocurrency for payments on the platform, capturing a 22.1% share of all transactions and surpassing Tether (USDT), which finished the year at 16.6%. The Bitcoin network, bolstered by continued adoption of the Lightning Network, was the most-used payment rail. Approximately 11.3% of BTC payments were settled via Lightning, with the remaining 88.7% processed on-chain.
Litecoin (LTC) ranked as the third-most-used payment asset with a 14.4% share and briefly moved into second place during the summer months. Tron (TRX) and Ethereum (ETH) also saw growth, with TRX's payment share increasing from 9.1% to 11.5% and ETH's from 8.9% to 10.6%.
A major shift occurred in stablecoin usage, heavily influenced by the European Union's Markets in Crypto-Assets (MiCA) regulation. While USDT was phased out by year-end due to regulatory pressure, USD Coin (USDC) emerged as the dominant stablecoin. Its share of stablecoin payments on CoinGate skyrocketed from 2.5% in 2024 to 44.2% in 2025, with processed order volume increasing thirteenfold year-over-year.
The report highlights a clear maturation in crypto payments. Merchant settlement behavior showed a move away from immediate fiat conversion, with crypto settlements rising from 27% in 2024 to 37.5% in 2025. Notably, USDC settlements surged from 0.01% to 12.6%, establishing it as a preferred treasury asset. For payouts to vendors and partners, 87.8% were executed in stablecoins, primarily USDC, with automation via APIs handling 85% of these transactions.
Regulatory clarity played a key role in this transition. CoinGate's acquisition of a MiCA license from the Bank of Lithuania in 2025 provided merchants with a stronger legal footing, boosting confidence to use crypto for core financial operations.
