The latest crypto report from a16z states that total stablecoin transactions reached $46 trillion in the past year, an increase of 106% year-on-year. While this primarily represents the flow of funds (unlike retail payments by card organizations), it is three times the size of Visa and close to the ACH network that runs through the US banking system.
After adjustment (excluding robot and human swiping data), the real transaction volume of stablecoins in the past 12 months was $9 trillion, an increase of 87% year-on-year, more than five times the processing volume of PayPal and more than half the size of Visa.
Adjusted monthly stablecoin turnover has surged to an all-time high, approaching $1.25 trillion in September 2025 alone.
Notably, this activity is less correlated with overall crypto trading volumes - indicating that stablecoins are being used for non-speculative purposes and, more importantly, confirming the product's market-fit.
A16Z: Total stablecoin transactions reached $46 trillion in the past year, three times the size of Visa
2025-10-23 03:41:29
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