Stablecoin transfer volume surged to $891 billion in the third quarter of 2026—a fourfold increase since early 2023. The pace: over $400 million moved per hour in adjusted transfer volume, according to research commissioned by Coinbase and conducted using Dune Analytics data.
Seventy-three percent of all screened stablecoin transfers occurred outside traditional U.S. banking hours, underscoring the 24/7 settlement capability digital assets provide. Seven of the 10 largest U.S. banks have already tested stablecoins or tokenized deposits. Thirty percent of mid-market companies engaged in cross-border business are now using or piloting stablecoins, up from 10 percent in 2024.
Business-to-business payment volume using stablecoins increased 36 percent year over year. Blockchain addresses holding stablecoins reached 293 million—exceeding the combined card base of American Express and Discover. (Note: blockchain addresses do not equate to individual users.)
The report modeled the economics of widespread adoption. Shifting 80 percent of international transactions onto stablecoin networks could add $155 billion to global GDP annually and free up approximately $3 trillion in liquidity currently held by banks for cross-border settlement. Researchers acknowledged that such adoption could reduce bank lending and offset some gains.
Market capitalization tells a different story. Stablecoin total market cap stood at $301.42 billion on Tuesday—a 0.6 percent decline from $303.14 billion on Oct. 20, 2025, per DefiLlama data.
Consumer demand, however, is evident. A National Cryptocurrency Association survey released Monday showed 42 percent of U.S. adults—roughly 112 million people—would be more likely to open an account or increase financial engagement with a bank offering crypto services. Eighteen percent expressed specific interest in buying or using stablecoins through their primary bank.
A critical gap persists in bank communication. Sixty-four percent of respondents said their bank, credit union or financial advisor had never discussed cryptocurrency, and 43 percent were unaware if their bank offered crypto services.
Market forecasts have shifted. Standard Chartered pushed back its projection for the stablecoin market to reach $2 trillion from 2028 to 2030, citing slower supply growth. Citi maintains a base case projection of $1.9 trillion by 2030.
