Stablecoin pay-ins at NOWPayments were dominated by USDT on Tron, BNB Chain and Ethereum, which together supplied 86% of their value from September 2025 to September 2026. USDC on Base, USDC on Ethereum and USDT on Tron accounted for 54% of the processor’s stablecoin pay-in value, while Tron and BNB Chain supplied about 75% of pay-ins despite carrying only 14% of on-chain USDT and USDC transfer value. The data do not measure retail purchase counts or global merchant market share because customer numbers, geography and concentration remain unspecified. An earlier analysis assigning 69% of Base’s raw USDC transfer volume to decentralized-exchange liquidity provision and 23% to flash loans cannot explain NOWPayments’ payment mix or quantify lost sales.
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