The stablecoin payment sector is undergoing a significant transformation, shifting focus from pure technological competition to regulatory compliance and market distribution capabilities. In the B2B payment domain, the true competitive barriers are now regulatory licenses (such as MSB, EMI, SVF), banking partnerships, and first-mover advantages in establishing cross-border corridors. For instance, Bridge holds US MSB/MTL licenses while RD Tech possesses Hong Kong’s SVF license. Stablecoins have emerged as cryptocurrency’s killer application, particularly serving as daily currency in global southern regions. The market emphasis has shifted from creating new stablecoins to integrating existing ones into everyday payment ecosystems. While consumer-facing P2P remittances and crypto cards remain important, the largest total addressable market resides in cross-border B2B payments. The payment infrastructure stack begins with blockchain foundations, where transaction finality speed and cost efficiency are critical for commercial adoption. Recent developments see major payment companies and Web2/Web3 giants pursuing vertical integration by launching proprietary stablecoins, wallet products, and dedicated payment blockchains. Payment orchestration layers that combine fiat and stablecoin capabilities while managing compliance and settlement are positioned to capture significant value in the $150 trillion global cross-border payment market. These orchestrators differ from mere aggregators by controlling regulatory compliance and settlement processes directly. The competitive landscape is intensifying as emphasis moves from underlying technology to practical adoption. Stablecoin-native chains are emerging to capture transaction fee revenue that would otherwise flow to general-purpose blockchains. Meanwhile, traditional payment giants are recognizing the threat and building their own stablecoin capabilities. Future developments point toward AI-driven payment paradigms where autonomous agents require new infrastructure for machine-to-machine transactions. Google’s AP2 protocol and Ethereum’s x402 extension represent early efforts to create trust layers for AI-powered commerce. The sector’s evolution demonstrates that sustainable advantages will come from regulatory compliance, banking relationships, and corridor-specific solutions rather than technological superiority alone.