Tether’s USDT Gains Ground Against USDC in BitPay Transactions Amid Market Shifts in 2025

• BitPay’s stablecoin transaction landscape reveals a significant shift as Tether’s USDT gains ground over Circle’s USDC in 2025, reversing last year’s dominance.

• Despite USDC’s regulatory edge under the EU’s MiCA framework and its public market debut, USDT has surged in both transaction volume and merchant preference on BitPay.

• According to BitPay’s chief revenue officer Bill Zielke, the growing preference for USDT among merchants and customers is reshaping stablecoin usage trends on the platform.

BitPay’s 2025 data shows Tether’s USDT overtaking USDC in stablecoin transactions and volume, highlighting shifting market dynamics despite regulatory advantages for USDC.

‘,
‘

🚀 Advanced Trading Tools Await You!
Maximize your potential. Join now and start trading!

‘,
‘

📈 Professional Trading Platform
Leverage advanced tools and a wide range of coins to boost your investments. Sign up now!

‘
];

var adplace = document.getElementById(“ads-bitget”);
if (adplace) {
var sessperindex = parseInt(sessionStorage.getItem(“adsindexBitget”));
var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesBitget.length) : sessperindex;
adplace.innerHTML = adscodesBitget[adsindex];
sessperindex = adsindex === adscodesBitget.length – 1 ? 0 : adsindex + 1;
sessionStorage.setItem(“adsindexBitget”, sessperindex);
}
})();

Tether’s USDT Surpasses USDC in Stablecoin Transaction Volume on BitPay

In a notable market development, Tether’s USDT has overtaken Circle’s USDC in stablecoin transaction volume on BitPay as of early 2025. While USDC dominated with an 85% transaction share in January 2024, recent figures reveal USDT capturing 43% of transactions by May 2025, nearly closing the gap. More strikingly, USDT now accounts for over 70% of stablecoin payment volume processed by BitPay, signaling a strong merchant and consumer shift toward Tether’s token.

This trend reflects not only an increase in overall stablecoin transactions but also a strategic preference among BitPay’s sizable European and U.S. user base. Bill Zielke, BitPay’s chief revenue officer, emphasized that although USDC remains the most used stablecoin by transaction count, USDT’s rapid volume growth marks a pivotal change in payment preferences.

‘,
‘

🔒 Secure and Fast Transactions
Diversify your investments with a wide range of coins. Join now!

‘,
‘

💎 The Easiest Way to Invest in Crypto
Dont wait to get started. Click now and discover the advantages!

‘
];

var adplace = document.getElementById(“ads-binance”);
if (adplace) {
var sessperindex = parseInt(sessionStorage.getItem(“adsindexBinance”));
var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesBinance.length) : sessperindex;
adplace.innerHTML = adscodesBinance[adsindex];
sessperindex = adsindex === adscodesBinance.length – 1 ? 0 : adsindex + 1;
sessionStorage.setItem(“adsindexBinance”, sessperindex);
}
})();

Market Dynamics and Merchant Preferences Driving USDT Adoption

The growing adoption of USDT on BitPay can be attributed to several factors. First, USDT’s broad acceptance and liquidity in the crypto ecosystem make it a preferred choice for merchants seeking stable and reliable payment options. Additionally, the platform’s expansion in Europe and the United States has exposed a diverse user base to USDT’s benefits, including faster settlement times and widespread exchange support.

BitPay’s data suggests that existing merchants and customers are increasingly favoring USDT for its transactional efficiency and market familiarity. This shift occurs despite USDC’s regulatory compliance advantages under the European Union’s Markets in Crypto-Assets Regulation (MiCA), which theoretically should bolster its adoption among institutional users.

‘,
‘

🔥 The Power of the TRON Ecosystem is Yours!
Click now to discover exclusive opportunities!

‘,
‘

💎 Profit Opportunities on the TRON Network
Join now to strengthen your investments!

‘
];

var adplace = document.getElementById(“ads-htx”);
if (adplace) {
var sessperindex = parseInt(sessionStorage.getItem(“adsindexHtx”));
var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesHtx.length) : sessperindex;
adplace.innerHTML = adscodesHtx[adsindex];
sessperindex = adsindex === adscodesHtx.length – 1 ? 0 : adsindex + 1;
sessionStorage.setItem(“adsindexHtx”, sessperindex);
}
})();

Regulatory Landscape and Strategic Choices: USDC vs. USDT

Circle’s USDC has positioned itself as a regulatory-compliant stablecoin, becoming the first to receive approval under the EU’s MiCA framework in July 2024. This milestone was expected to enhance USDC’s credibility and adoption, especially in regulated markets. Furthermore, Circle’s successful public offering in June 2025, raising over $1 billion, signaled strong investor confidence in USDC’s growth trajectory.

Conversely, Tether has taken a contrasting approach by rejecting MiCA compliance and declining to pursue a public listing. CEO Paolo Ardoino has openly criticized aspects of MiCA regulation, maintaining a more decentralized and flexible operational model. Despite this, Tether’s USDT continues to dominate payment volumes on BitPay, underscoring that regulatory approval is not the sole determinant of market preference.

Market Capitalization Trends Reflect Stablecoin Competition

Market capitalization data further illustrates the competitive dynamics between USDC and USDT. Over the past year, USDC’s market cap surged approximately 88%, rising from $33 billion to $61.7 billion, reflecting robust growth and investor interest. Meanwhile, USDT’s market cap increased by 40%, from $112.5 billion to $158.3 billion, maintaining its position as the largest stablecoin by market value.

Year-to-date figures reinforce this trend, with USDC’s market cap growing 41% compared to USDT’s 15.5% increase. These metrics highlight USDC’s expanding footprint despite the transactional momentum favoring USDT on payment platforms like BitPay.

Conclusion

The evolving stablecoin landscape on BitPay underscores a nuanced competition between USDC and USDT, where regulatory compliance and market adoption intersect but do not always align. While USDC benefits from MiCA approval and strong market cap growth, USDT’s dominance in transaction volume and merchant preference signals its entrenched position in crypto payments. Stakeholders should monitor these trends closely as the stablecoin market continues to mature and adapt to regulatory and user demands.