Stablecoin payment volume reached $482 billion in the first nine months of 2026, a 45% increase year-over-year, according to a report from blockchain analytics firm Allium. The number of transactions grew even faster, rising 71% to 1.04 billion, indicating a trend toward more frequent, smaller payments.
This surge in usage contrasts sharply with the total circulating supply of stablecoins, which remained nearly flat, growing just 0.4% to approximately $305 billion by the end of September. The data suggests that existing stablecoins are circulating more actively for payments rather than just being held for trading or speculation. The growth is partly attributed to increased integrations with traditional payment companies like Visa and Mastercard, which are helping to bridge crypto and traditional finance.