Stablecoins Hit $46T Volume Amid Institutional Adoption

Published: 2025-10-23 07:26:28 |

According to a16z’s latest report, stablecoin transactions surged 87% year-on-year to $9 trillion in the past 12 months, and $46 trillion unadjusted. Stablecoins now hold over $150 billion in U.S. Treasuries—making them the 17th-largest holder of U.S. government debt—and represent more than 1% of the U.S. dollar supply on public blockchains. Institutional adoption is accelerating. BlackRock, Visa, Fidelity, JPMorgan Chase, Citigroup and Morgan Stanley are expanding crypto services. Fintech leaders such as Stripe, PayPal and Robinhood are also onboard. Improved blockchain throughput—networks now exceed 3,400 transactions per second—supports fast, low-cost dollar transfers. Regulatory clarity from the U.S. GENIUS Act and a forthcoming U.K. framework further bolsters confidence. The rise of spot ETFs for BTC and ETH, alongside monthly users rising to 40–70 million, signals deeper mainstream integration.

Bullish

This news is bullish for stablecoins. In the short term, evidence of surging transaction volumes, improved blockchain throughput and regulatory clarity can drive higher trading activity and liquidity. Institutional adoption from major financial institutions and fintech platforms is likely to boost demand and trust in stablecoins, supporting tighter spreads and increased on-chain transfers. In the long term, stablecoins’ growing share of USD supply, significant U.S. Treasury holdings and integration into spot ETFs for BTC and ETH signal that stablecoins will play a pivotal role in crypto finance, underpinning further market growth and stability.