Stablecoin transaction volumes could reach $719 trillion by 2035 through organic growth alone, as digital assets become more deeply embedded in global payments, Chainalysis said in a recently published report.
The blockchain analytics firm said the figure could climb as high as $1.5 quadrillion if broader adoption drivers accelerate growth, including a major generational wealth transfer and the expansion of stablecoin acceptance at the point of sale.
Stablecoin volumes move toward a new scale
Chainalysis said stablecoins processed $28 trillion in adjusted real economic volume in 2025, a metric designed to filter out bot activity, liquidity provisioning, MEV transfers, and other transactions that do not reflect genuine economic use.
The adjusted figure has also grown at a 133% compound annual growth rate since 2023, with payments, remittances, and settlement emerging as the clearest areas of current adoption.
If that pace continues without additional catalysts, Chainalysis projects stablecoin volumes could reach $719 trillion by 2035. With stronger adoption drivers, the firm said volumes could approach $1.5 quadrillion, surpassing the estimated $1 quadrillion global cross-border payments market today.
Wealth transfer could accelerate adoption
A major driver behind these expectations is the transfer of wealth from older generations to Millennials and Gen Z. Chainalysis cited estimates that as much as $100 trillion could move from Boomers to younger generations between 2028 and 2048.
That generational shift could accelerate stablecoin adoption, with younger investors more likely to treat crypto as a normal financial tool rather than a speculative niche, a change Chainalysis said could add $508 trillion to annual stablecoin transaction volumes by 2035.
The report suggests that traditional financial institutions may face growing pressure to serve clients who are more comfortable moving capital through on-chain systems, or risk losing payment and settlement flows to blockchain-based infrastructure.
Stablecoins challenge legacy payment rails
Chainalysis also pointed to point-of-sale adoption as a second major catalyst, saying stablecoins could move from specialized crypto transfers into everyday commerce as merchant acceptance expands.
The firm said stablecoin payment volumes are on pace to match Visa and Mastercard’s off-chain transaction volumes sometime between 2031 and 2039, creating direct competitive pressure on legacy card networks.
Stablecoins offer near-instant settlement, 24/7 availability, lower intermediary friction, and programmable payment functions, features that Chainalysis said could appeal to institutions, merchants, and consumers seeking faster and cheaper payment rails.
Institutions move closer to on-chain finance
The report comes as major payments companies increasingly position stablecoins as core infrastructure rather than a narrow crypto-native tool. Chainalysis cited Stripe’s acquisition of Bridge and Mastercard’s partnership with BVNK as examples of traditional firms preparing for a payments market that spans both legacy and blockchain rails.
For companies, the message is clear. Stablecoins are moving beyond their role as a digital store of value and are increasingly becoming settlement infrastructure for payments, remittances, treasury operations, and cross-border flows.
Chainalysis warned that firms slow to adapt may find future transactions settling on someone else’s rails.
Recent data points to faster adoption
Recent industry data suggests stablecoin adoption is moving from long-term projections into active payment infrastructure.
Visa’s stablecoin settlement run rate has reportedly reached $7 billion after rising more than 50% quarter over quarter, while Coinbase expects the stablecoin market to grow toward $1.2 trillion by 2028.
A16z data also points to stronger real-world use, with adjusted stablecoin volume reaching about $4.5 trillion in the first quarter of 2026 and consumer-to-business transactions more than doubling in 2025.
Despite differences in their projections, these figures support Chainalysis’ broader view that stablecoins are moving deeper into mainstream payments infrastructure, with adoption expanding across settlement, merchant payments, remittances, and cross-border flows.