BroadChain News, April 27, 15:16 - Stablecoins are undergoing an identity shift. Initially, they were merely trading tools on exchanges; then they evolved into long-term savings instruments. Now, data points to a new direction: stablecoins are becoming the cornerstone of global financial infrastructure. Nine charts released by a16z crypto reveal the key trends behind this transformation.
Regulatory clarity has accelerated market growth. The U.S. GENIUS Act established the first federal-level regulatory framework for stablecoin issuance, with immediate effects: adjusted stablecoin transaction volumes had been steadily rising for multiple quarters before the bill's passage, and the growth rate further accelerated after implementation, reaching approximately $4.5 trillion in the first quarter of 2026. Europe's MiCA regulation has spurred a non-USD stablecoin market, with monthly transaction volumes stabilizing between $15 billion and $25 billion, up from near zero previously.
Commercial payment use cases are expanding rapidly. In 2025, peer-to-peer (C2C) transactions led with 789.5 million transactions; while consumer-to-business (C2B) transactions saw the fastest growth, surging from 124.9 million in 2024 to 284.6 million, a year-over-year increase of 128%. The stablecoin payment card project based on Rain technology saw monthly collateral deposits grow from near zero in November 2024 to over $300 million per month by early 2026.
The velocity of stablecoins has significantly increased. Since the start of 2024, stablecoin velocity (monthly adjusted transfer volume divided by circulating market cap) has nearly doubled, rising from 2.6x to 6x. This indicates that transaction demand is growing faster than new issuance, with a substantial improvement in the utilization efficiency of existing capital. Excluding trading and exchange-related activities, estimated stablecoin payment volumes last year ranged between $350 billion and $550 billion, with business-to-business (B2B) payments dominating.
Geographically, Asia contributed nearly two-thirds of transaction volumes, primarily from Singapore, Hong Kong, and Japan; North America accounted for about a quarter, and Europe around 13%. The rise of non-USD stablecoins is not limited to Europe, as emerging markets are also rapidly adopting them. Monthly transfer volumes of BRLA, a stablecoin pegged to the Brazilian real, have grown from approximately $200 million in mid-2024 to around $2 billion by the end of 2025, a tenfold increase.