Stablecoins are increasingly moving from niche settlement tools to the backbone of global payments, with stablecoin transaction volume projected to reach as high as $1.5 quadrillion within the next decade, according to a Chainalysis report on Wednesday.
Baseline growth alone would take adjusted stablecoin volume to $719 trillion by 2035, the blockchain analytics provider said. Add macro catalysts — demographic shifts and merchant adoption — and the ceiling stretches far higher.
The report points to a structural change already underway.
Stablecoins processed roughly $28 trillion in “real economic activity” in 2025. By that, Chainalysis means the data referenced was stripped of trading noise and focused solely on payments, remittances, and settlement. By 2035, that figure is expected to explode, driven by two main forces, Chainalysis said.
The first is generational. Between 2028 and 2048, as much as $100 trillion is expected to move from older cohorts to Millennials and Gen Z, groups far more comfortable holding and transacting in digital assets.
Distribution offers the second catalyst. As stablecoins embed deeper into merchant checkout and backend payment systems, using them becomes invisible. Paying with crypto stops being a decision and starts to feel like any other transaction, the report predicts. It's here where AI-driven commerce may also play a factor.
Put together, those shifts could push stablecoin payment volumes to parity with Visa and Mastercard sometime between 2031 and 2039, or even sooner if adoption accelerates.
The implications are no longer theoretical. Chainalysis points to major financial firms already repositioning as evidence.
Stripe and Mastercard’s acquisitions of Bridge and BVNK, respectively, signal a market where stablecoins are no longer an edge case but part of the core payments infrastructure.
Standard Chartered flagged that stablecoin usage is rising faster than expected, as new use cases emerge. At the same time, the bank also argued that stablecoins could drive up to $1 trillion in demand for U.S. Treasuries, linking payment growth directly to global capital flows.
Elsewhere, policymakers are still debating the risks.
A White House study published this week found limited evidence that stablecoin yields would materially harm bank lending. The report effectively pushed back on concerns about deposit flight even as the regulatory framework evolves.
Some also see convergence rather than disruption. Trump’s crypto advisor said that stablecoins could channel deposits into the U.S. banking system, not away from it, depending on how issuance and reserves are structured.
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