Galaxy: Stablecoins Could Surpass US ACH Volume by 2026; Bitcoin Seen at $250K by 2027
Galaxy Research projects that dollar-pegged stablecoin onchain transfer volume could exceed US ACH (Automated Clearing House) volume by 2026. Analysts cite a 30–40% compound annual growth rate in stablecoin supply, onchain dollar transfer volumes already matching or exceeding some major card networks, and growing institutional and corporate adoption as drivers. Examples of new entrants and use cases include Western Union’s planned US Dollar Payment Token on Solana, Sony Bank’s proposed stablecoin for its US ecosystem (targeted 2026), and SoFi’s SoFiUSD on Ethereum. The stablecoin market cap is about $309 billion (DefiLlama), dominated by USDT and USDC. Expected regulatory clarity — notably frameworks such as the GENIUS Act and proposed bank-issued stablecoin rules — is cited as a key accelerator for mainstream payments, settlements and enterprise integration. Galaxy flags broader crypto momentum, offering a bullish multi-year outlook for Bitcoin (BTC) — a possible rise to $250,000 by end-2027 — while warning that 2026 could be “too chaotic to predict” for near-term price forecasts. For traders: anticipate increasing onchain dollar liquidity and transaction flow, potential consolidation around a few dominant stablecoins, faster adoption in remittances and settlement rails, and elevated stablecoin-related counterparty and regulatory risks that could alter market access and liquidity quickly.
Bullish
The news is net bullish for Bitcoin specifically and constructive for crypto market infrastructure. Galaxy’s projection that stablecoin onchain dollar transfers could outpace ACH by 2026 implies stronger onchain liquidity, faster settlement rails, and broader payments adoption — conditions that typically support higher crypto-asset utility and demand over time. The cited 30–40% CAGR in stablecoin supply, institutional entrants (Western Union, Sony Bank, SoFi), and a $309B stablecoin market cap point to expanding capital flows into onchain dollar liquidity, which can increase trading volumes and reduce frictions for crypto-native settlement. Regulatory clarity (GENIUS Act, bank stablecoin proposals) is treated as an accelerator; clearer rules reduce friction for institutional participation and could lift risk appetite, supporting longer-term price appreciation for BTC. Short-term volatility remains likely — Galaxy warns 2026 could be chaotic — because regulatory shifts, onboarding of large institutional players, or consolidation around a few stablecoins may cause rapid liquidity reallocation and counterparty risk events. Overall, the structural improvements to onchain payments and anticipated institutional demand justify a bullish multi-year view on BTC, while traders should prepare for near-term spikes in volatility tied to regulatory news and large integrations.