Stablecoins are rapidly shifting from crypto trading tools to core infrastructure for global payments as adoption accelerates across both developed and emerging markets according to a new report by Chainalysis
The report finds that stablecoins now account for the majority of on-chain transaction volume reflecting growing use in real-world financial activity such as cross-border payments, remittances and corporate treasury operations.
Chainalysis projects stablecoin transaction volumes could approch $1.5 quadrillion by 2035, a figure that would surpass the estimated $1 quadrillion in global cross-border payments today.
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Unlike volatile cryptocurrencies, stablecoins are typically pegged to fiat currencies such as the U.S. dollar, making them more suitable for payments and savings. Their ability to settle transactions almost instantly and operate around the clock is driving interest from fintech firms and traditional financial institutions seeking faster and cheaper alternatives to legacy systems like SWIFT.
Chainalysis said the shift marks a transition from speculative use cases toward utility-driven adoption particularly in regions facing currency instability or limited access to U.S. dollars.
Emerging markets are leading this trend with stablecoins increasingly used as a hedge against inflation and a means of accessing dollar liquidity. In these regions, users are turning to stablecoins for everyday transactions, savings and international trade.
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The report also highlights the next phase of development where stablecoins are expected to integrate more deeply into financial services through programmable features, including automated payments and tokenized financial products.
However, regulatory uncertainty remains a key challenge. Governments are moving to impose stricter rules on stablecoin issuers, including reserve requirements and licensing frameworks, which could shape the pace of adoption.
Fragmentation across multiple blockchains and concerns around issuer control, such as the ability to freeze funds, also pose risks to broader uptake.
Still, Chainalysis said stablecoins are increasingly positioned to become a foundational layer in global finance as digital payments continue to evolve.
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