The digital currency world has quietly achieved something remarkable: stablecoins now process more money than most people realize. These digital dollars have grown to a massive $308 billion market in October 2025, marking their 25th straight month of growth. To put this in perspective, stablecoins now handle $9 trillion in transactions yearly—that’s five times more than PayPal processes.
Stablecoins quietly reached $308 billion, processing $9 trillion yearly—five times more than PayPal handles.
Traditional banks might want to pay attention. Stablecoins are becoming serious competitors in moving money around the world. The two biggest players, Tether and USD Coin, control nearly 90% of this massive market. Together, they’ve tripled in size since 2023, reaching a combined $260 billion. That’s larger than many entire banking systems.
What makes this growth especially interesting is where it’s happening. Asia leads the charge in stablecoin activity, while regions like Africa and Latin America show impressive usage relative to their economic size. People in these areas often find stablecoins faster and cheaper than traditional banking, especially for sending money across borders.
The numbers tell a compelling story about changing financial habits. Last year alone, stablecoins processed $46 trillion in total volume—a 106% jump from the previous year. Most of this activity happens on just two networks: Ethereum and Tron, which handle about 64% of all transactions. These stablecoins now power comparable transaction volumes to major payment processors like Visa and PayPal.
Meanwhile, these digital currencies now hold over $150 billion in U.S. Treasury bonds, making them the 17th largest holder globally.
Banks face an interesting challenge here. Stablecoins operate 24/7 without traditional banking hours or weekend delays. They’re particularly attractive for international transfers, where traditional banks often charge high fees and take several days to process payments. USDT dominates with 75.2% of trading volume on centralized exchanges, cementing its position as the leading player in this space. Like other digital currencies, stablecoins use blockchain technology to secure transactions and operate independently of traditional financial systems.
However, experts predict even bigger changes ahead. Forecasts suggest the stablecoin market could reach $2 trillion by 2028. Some believe it might hit $500-750 billion in the coming years alone.
Whether this boom will truly upend traditional banking remains unclear. But one thing is certain: stablecoins have moved far beyond experimental technology. They’re becoming a real alternative that processes trillions of dollars yearly, and traditional banks are starting to take notice.
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