tl;dr
Tether USD (USDT) has surpassed $150 billion in circulating supply, accounting for 63% of the total stablecoin supply of nearly $238 billion as of May 12, 2025. Stablecoins averaged over $521 billion in weekly transfer volumes in 2025, exceeding the combined weekly volumes of Visa ($319 billion) and...
Tether USD (USDT) has surpassed $150 billion in circulating supply, representing 63% of the total stablecoin supply of nearly $238 billion as of May 12, 2025.
Stablecoins averaged over $521 billion in weekly transfer volumes throughout 2025, significantly outpacing the combined weekly transaction volumes of Visa ($319 billion) and PayPal ($32 billion).
During the week of January 20, 2025, stablecoins processed approximately $654.9 billion, exceeding the combined Visa and PayPal volume of $351.2 billion by more than $303 billion.
Other notable weeks in early 2025 showed consistent leadership by stablecoins with substantial margins above traditional payment giants.
This explosive growth is fueled by strong global demand from over 400 million users and a regulatory environment perceived as more favorable.
Traditional payment companies are adapting rapidly: Visa launched a platform to tokenize fiat currencies and enabled stablecoin-powered cards in Latin America.
Mastercard tokenized 30% of its 2024 transactions and introduced cards supporting stablecoin payments.
PayPal’s stablecoin, PayPal USD (PYUSD), launched in August 2023, has experienced volatility in market cap.
After peaking above $1 billion in supply in August 2024 and declining below $450 million by December, PYUSD adoption surged recently by 95%, reaching nearly $930 million supply by May 12, 2025.
Stablecoins topped $24.6 trillion in transfer volume last year, surpassing Visa and Mastercard combined by 7.7%, highlighting a paradigm shift in payment systems.
With the intersection of advancing stablecoin technology and traditional finance’s embrace, the payment landscape is undergoing significant transformation, inviting investors and users alike to reconsider how value moves globally in this new era.