Stablecoins processed $46 trillion in transactions last year, with a16z calling the sector’s explosive growth a defining force in the future of global payments.
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Posted October 23, 2025 at 10:04 am EST.
Stablecoins have reached an annual transaction volume of $46 trillion in 2025, nearly triple the volume processed by Visa, according to a report from a16z.
After filtering out bots and other artificially inflationary activity, that figure was a much lower $9 trillion, but still more than five times PayPal’s annual volume.
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The total stablecoin supply now exceeds $300 billion, with Tether’s USDT and Circle’s USDC accounting for 87% of this supply. It also means that stablecoins represent over 1% of all U.S. dollars in circulation as tokenized assets on blockchains.
The surge in stablecoin activity represents a significant shift in global finance, with stablecoins powering a new phase of economic activity that is largely decoupled from speculative crypto trading.
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