According to the latest data, the performance of stablecoins over the past year has been eye-catching. Transfer volume reached $46T, which is three times the transaction volume of Visa and even close to the scale of ACH, supporting the entire US banking system.

**From a speculative tool to essential payment infrastructure**

Remember what stablecoins looked like initially? The original design was for facilitating crypto trading speculation. But now, the situation is completely different. Global transfers can be completed in almost one second, costing less than one cent, and can be used almost anywhere. This is no longer a niche technological experiment but has truly become an indispensable financial conduit.

**Transaction volume data speaks volumes**

Last year, the total transaction volume of stablecoins reached the trillion-dollar level, a 106% YoY increase. How impressive is this growth? It is three times the transaction volume of Visa and close to the scale of ACH. While it cannot be fully equated with traditional financial flows and retail payments, this scale cannot be ignored.

**Adjusted transaction volume better reflects real usage**

The adjusted transaction volume over the past 12 months is even more impressive — over five times PayPal's processing capacity and over 50 times Visa's transaction volume. This indicates that stablecoins are not just trading tools; they are being practically used in various scenarios.

**Adoption speed is accelerating**

Monthly adjusted transaction volume keeps hitting new highs. In September 2025 alone, it reached $1.25 trillion. Interestingly, this growth is largely unrelated to fluctuations in crypto trading volume, indicating that stablecoins are genuinely being used as products.

**Supply side is also hitting new highs**

The total supply of stablecoins has reached a new all-time high. From these indicators, stablecoins are evolving from once niche applications into an important part of the global payment system.