Cross-border stablecoin transfers grew by 77.5% year-on-year to June 2026, reaching $220.3 billion, despite an overall decline in the crypto market by 37% to $2.1 trillion. This data was published in a new study by Chainalysis, which also noted that the previous period showed transfer volumes of $124.2 billion. The growth of stablecoins indicates a rising demand for cryptocurrencies beyond speculative trading. Stablecoins, which aim to maintain a stable value and are often pegged to fiat currency, are gaining increasing recognition in traditional finance. In July 2025, the GENIUS Act was signed into law in the U.S., and the MiCA regulations in the European Union and licensing of issuers in Hong Kong are strengthening the legal framework for stablecoins.
Chainalysis explains that the average cross-border transfer volume is about $3,000, reflecting real use cases such as payments to suppliers and remittances. “Activity has become stable, routing through wallets at a steady pace rather than in bursts,” – noted Philip Gradwell, Vice President of Economics at Tether. – “This is characteristic of trade and business activity rather than speculation.” Tianwei Liu, co-founder and CEO of StraitsX, added that in Asia, fragmented currencies and payment systems create demand for settlements in stablecoins. “This demand also extends to everyday expenses, with stablecoins supporting payment methods that people already use,” – he said. Outside of Asia, stablecoins address other challenges, including access to dollars, remittances, and protection against inflation or capital controls, which is relevant for Latin America, Africa, and the Middle East. Chainalysis also tracked 4,708 new cross-border transfer routes, which transferred a total of $2.64 billion. The largest 25% of corridors handle 96.1% of the total stablecoin volume, while the remaining 75% accounted for $8.66 billion, up from $260 million in the previous period.
Vincent Chok, co-founder and CEO of First Digital, noted that while the traditional payment structure remains effective for established corridors, it becomes fragmented as companies transfer money between markets with different banking systems, currencies, and settlement times. Stablecoins offer an alternative, but they are still limited by a lack of regulatory clarity, reliable redemption mechanisms, access to local currencies, and compatibility with existing financial systems. “Blockchain settlements are fast, but they do not address off-chain issues: conversion to local currency, compliance requirements, and moving funds through existing banking channels,” – added Chok. Meanwhile, traditional money transfer companies have expanded their stablecoin offerings this year. Western Union launched a stablecoin wallet and a Visa-linked card in 37 markets in August, allowing users to hold and spend their stablecoins backed by the US dollar. MoneyGram also announced the launch of a similar card initiative in September, targeting Colombia, with plans to expand to other markets later this year.
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