Stablecoins handled $ 28 trillion in real economic activity in 2025. A new report from Chainalysis predicts that this figure could reach $ 1.5 trillion by 2035. Two forces are driving this shift.

Two macro trends — a historic generational shift in wealth and the normalization of crypto payments — are changing global finance.

The largest generational shift in history

From around 2028, Millennials and Gen Z will make up the majority of adults in North America and Europe. Nearly half of them own, or have owned, crypto already, according to a Gemini survey from 2025.

Merrill Lynch estimates that up to $100 trillion will be transferred from Boomers to younger generations by 2048. Unlike their parents, these heirs are likely to use and transfer capital via crypto as the standard. Chainalysis predicts that this change in behavior could add $508 trillion to annual stablecoin volume by 2035. This figure is larger than the entire current global market for cross-border payments.

The second driver is increased usage among stores and retailers. When enough stores accept stablecoins, paying with crypto will no longer be a conscious choice. It will just be how you pay. Large retailers and payment providers are already testing stablecoin integration at checkout.

Acceptance of stablecoins in stores makes everyday transactions — groceries, rent, subscriptions — large-scale on-chain activity. Chainalysis estimates that this alone could add $232 trillion in annual volume by 2035.

Why big finance is betting on stablecoin networks

Based on current developments, stablecoin transactions could reach the same scale as Visa and Mastercard between 2031 and 2039. Stablecoins settle in seconds, are available around the clock, and cut out intermediaries. Stripe bought Bridge. Mastercard partnered with BVNK.

For traditional institutions, the calculations are changing. Those who wait may end up making transactions on others' networks.