- Stablecoins handle $33 trillion in annual volume, eclipsing PayPal by twenty times and nearing ACH transaction levels today.
- $128 billion in U.S. Treasuries held by stablecoin issuers places them among top twenty holders, surpassing Germany.
Stablecoins now handle $33 trillion in annual volume, a figure almost twenty times higher than PayPal’s. They also process three times the transaction value of Visa and approach the scale of ACH transfers.
More than $128 billion in U.S. Treasury bonds sit on stablecoin issuers’ balance sheets, placing them among the top twenty holders of federal debt. Consequently, these issuers have overtaken countries like Germany and Saudi Arabia on the debt scoreboard.
Moreover, over one percent of all U.S. dollars exist in tokenized form. Citi expects stablecoin reserves in Treasuries to rise to $3.7 trillion by 2030. Ethereum and Tron currently support most stablecoin transactions. However, networks like Solana, Arbitrum, and Base are gaining market share.
On-chain data shows stablecoin activity largely decoupled from crypto trading volumes. Therefore, usage appears driven by real-world payments rather than speculation. Transactions settle in under one second for less than one cent, making stablecoins competitive for rapid money transfers. Meanwhile, users benefit from instant settlement and low fees.
