According to the Visa oncheen data, Circle’s USDC stablecoin increased its advantage over USDT from Tether in terms of transaction volume in the first half of 2026. In June, the adjusted transaction volume of stablecoins reached a record high of $1.79 trillion (+63% year on year, +125% year on year). Visa calculates this figure, excluding bot activity, cross-market transfers and other non-economic transactions.

USDC accounted for about 70% of the adjusted volume in H1 2026, while USDT accounted for ~25%. For comparison: in 2020, USDT dominated with a share of ~90%, and USDC was less than 10%; by 2022, USDC’s share had risen to ~45%. Total transactions for stablecoins in the first half of the year reached $8.82 trillion - more than $5.8 trillion for the entire 2024, but $2 trillion lower than the record of 2025 ($10.8 trillion).

Banks and financial institutions are expanding the use of USDC for payments and treasury operations: Standard Chartered and BNY have added USDC-based services instead of developing their own infrastructure. This shift reflects the growing preference of institutions for regulated stablecoins with transparent back-up.

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The material is prepared solely for informational purposes and does not constitute a financial advice or recommendation.