Stablecoins Hit Record $3 Trillion Transaction in August as Adoption Surges Globally

The stablecoin market is experiencing unprecedented growth, setting a new milestone with a 92% surge in transaction volume in August 2025.

According to DefiLlama, total stablecoin transactions soared to an astonishing $3 trillion, underscoring their expanding role within the global financial ecosystem.

This growth is even more remarkable considering the turbulence in broader crypto markets. While Bitcoin (BTC) shed 6.49% of its value during the same period, stablecoins thrived, with their total market capitalization increasing by $17 billion to reach $284.56 billion as of September 2, 2025.

Stablecoins like Tether (USDT) and USD Coin (USDC) led the charge. USDT maintained its dominance with a $143 billion market cap, while USDC followed closely at $58 billion. This growth highlights the stability fiat-pegged assets offer in volatile markets, solidifying their role as a cornerstone of decentralized finance (DeFi) and digital payments.

The surge in stablecoin adoption reflects a global shift toward blockchain-based finance. From remittances and DeFi to institutional adoption, stablecoins are no longer niche crypto assets they are redefining global payments and financial inclusion.

Notably, the rapid rise of stablecoins did not happen suddenly. In 2024, these digital currencies became a key pillar of the Web3 economy, surpassing their initial role as mere tools for crypto trading.

One defining moment was the $27.6 trillion in total stablecoin transfer volume, which surpassed the combined transaction volumes of Visa and Mastercard, signaling blockchain’s growing adoption for global payments.

This momentum carried into 2025, with stablecoin transaction volumes continuing to outperform traditional payment networks. For instance, Ethereum Layer-1 recorded $480 billion in stablecoin transactions in May 2025, reflecting accelerating adoption across DeFi, cross-border payments, and institutional finance.

Why Stablecoins Are Surging

The explosive growth of stablecoins can be attributed to several key factors that benefit issuers, businesses, and everyday users.

1. Benefits for Issuers

For fiat-backed stablecoins, every digital dollar is matched by a real-world fiat reserve.

Revenue Generation: Tether, for example, earned an additional $7 billion in 2024 by investing $113 billion in U.S. Treasury assets, showcasing the profitability of large reserve holdings.

Regulatory Advantage: Regulatory clarity, such as MiCA in the EU, enables compliant issuers to form partnerships with global enterprises, boosting adoption and market share.

2. Benefits for Businesses

Cost Savings: Traditional payment processors charge between $0.20 and $50 per transaction, with settlement times of up to five business days.

Faster, Cheaper Transfers: Stablecoin transactions cost less than $0.01 and settle within minutes, giving businesses more control, reduced chargebacks, and enhanced transparency.

Revenue Opportunities: Coinbase, for instance, earned approximately $1.7 billion from Circle’s USDC reserve revenues, per its April 2025 SEC filing.

3. Benefits for Consumers

For everyday users, stablecoins offer protection against local currency volatility and inflation. It also offers faster and cheaper cross-border remittances.

Africa’s Stablecoin Revolution

As stablecoins are proving to be transformative in emerging markets, Sub-Saharan Africa is not left out. According to a report by Yellow Card, stablecoins are increasingly used for payments, remittances, and financial inclusion across the region.

Nigeria emerged as Africa’s largest stablecoin market, with nearly $22 billion in transactions recorded between July 2023 and June 2024. Other fast-growing markets include South Africa, Ghana, Kenya, Zambia, Ethiopia, and Uganda.

The drivers of this adoption include currency volatility, inflation, and limited access to traditional banking services. Unlike volatile cryptocurrencies such as Bitcoin, stablecoins are pegged to stable assets like the U.S. dollar, making them a reliable medium for savings and everyday transactions.

Future Outlook

Looking ahead, J.P. Morgan Global Research projects that the stablecoin market could grow two to three times its current size, potentially reaching $500–750 billion in market capitalization within a few years.

While some reports forecast a $2 trillion market by 2028, J.P. Morgan considers this overly optimistic. Nonetheless, the continued growth trajectory highlights stablecoins’ potential to become a mainstream financial instrument rivaling traditional payment systems.

With $3 trillion in monthly transaction volume, stablecoins are now firmly established as a crucial pillar of the Web3 economy, bridging the gap between traditional finance and the digital future.