Stablecoin Transfers Quadrupled to $891 Billion in a Quarter

Stablecoin transfers in the third quarter of 2026 amounted to $891 billion, more than four times the level at the beginning of 2023. In adjusted terms, over $400 million per hour was passing through the network. This data is provided by a report prepared by The Block Research commissioned by Coinbase. According to the document, 73 percent of the filtered transfer volume occurred outside of US banking hours, including nights, weekends, and holidays.

The report notes the growing adoption of stablecoins in the banking environment. Seven out of the ten largest US banks have already tested stablecoins or tokenized deposits for settlements. Among mid-sized companies conducting international business, 30 percent are using or piloting stablecoins, compared to 10 percent in 2024. The volume of payments between companies increased by 36 percent year over year. Researchers counted 293 million blockchain addresses holding stablecoins. This is more than the total number of cards issued by American Express and Discover, although the authors note that an address does not always correspond to a separate user.

The report also provides hypothetical estimates. Transferring 80 percent of international transactions to stablecoin networks could add $155 billion to global GDP annually and free up about $3 trillion in liquidity that banks currently hold to support cross-border payments. These figures are based on implementation scenarios rather than observed economic outcomes. Researchers acknowledge that widespread adoption of stablecoins could reduce bank lending and thus partially offset the benefits of faster and cheaper payments.

A separate survey by the National Cryptocurrency Association showed that 42 percent of American adults, or about 112 million people, would be more likely to open an account with a bank offering crypto services or use it for more financial needs. Meanwhile, 18 percent would like to buy or use stablecoins through their primary bank. However, 64 percent of respondents said their bank, credit union, or financial advisor has never raised the topic of cryptocurrencies, and 43 percent do not know if their bank offers such services.

According to DefiLlama, the stablecoin market capitalization on Tuesday was $301.42 billion, approximately 0.6 percent below the $303.14 billion level on October 20, 2025. Previously, Standard Chartered postponed its forecast for the market to reach the $2 trillion mark from 2028 to 2030, citing slow supply growth. Citi, in its base scenario, expects $1.9 trillion by 2030, while in a bullish scenario, it allows for $4 trillion.