Stablecoin Trading Volume Hits Record High in 2025, Reaching $33 Trillion for the Year, With USDC Leading

Stablecoin transaction volumes reached an all-time high of $33 trillion in 2025, driven by favorable regulatory policies in the United States. This marked a 72% increase from the previous year, as per data from Artemis Analytics Inc. The United States, under the administration of President Donald Trump, has adopted a pro-crypto stance, including the enactment of the Genius Act, which has bolstered the legal framework for stablecoins.

The rise in stablecoin activity is attributed to both institutional and consumer adoption. USDC, developed by Circle Internet Group Inc., led the market with $18.3 trillion in transactions, while Tether Holdings SA’s USDT followed with $13.3 trillion. These stablecoins, designed to mirror the U.S. dollar, have gained traction as a hedge against global inflation and political instability.

The market’s growth is not uniform across all platforms. While decentralized platforms saw a decline in transaction shares, centralized platforms experienced an uptick, suggesting a shift toward mainstream usage. Anthony Yim, co-founder of Artemis, noted that stablecoins have become a preferred asset for citizens in unstable regions.

Why Did Stablecoin Volumes Surge in 2025?

The surge in stablecoin transactions is partly due to increased regulatory clarity. The Genius Act, enacted in July 2025, provided a legal foundation for stablecoins, encouraging broader adoption by institutions such as Standard Chartered, Walmart, and Amazon. These developments have lowered the barrier to entry for companies seeking to integrate stablecoins into their financial operations.

The U.S. dollar’s dominance as a global reserve asset has also contributed to the appeal of stablecoins. Citizens in countries with high inflation or economic uncertainty often prefer to hold digital U.S. dollars. Stablecoins offer a practical solution, allowing users to store and transact in digital assets with minimal risk.

How Did the Market Respond to the Growth in Stablecoins?

The stablecoin market’s expansion has attracted both institutional and retail investors. USDC has become a dominant stablecoin in decentralized finance (DeFi) platforms, where traders frequently move in and out of positions. This high-frequency usage leads to greater transaction volumes for USDC, even though its market value is smaller than that of USDT.

Tether’s USDT, while larger in market value at $187 billion, is more commonly used for everyday transactions and long-term holdings. This contrasts with USDC’s role as a high-liquidity asset on DeFi platforms.

What Are Analysts Watching Next?

Regulatory developments remain a key focus for analysts. The U.S. Commodity Futures Trading Commission’s potential involvement in stablecoin regulation could impact the market’s trajectory. Mason Lynaugh of Stand With Crypto highlighted the importance of the Responsible Financial Innovation Act and similar legislation in shaping the future of the stablecoin market.

Market analysts also monitor the expansion of stablecoin infrastructure. Zerion Wallet’s recent integration of the TRON network is a notable example, as it expands access to stablecoin payments and supports mass adoption. TRON currently hosts over $80 billion in circulating stablecoin supply, and this integration aims to make it more accessible to global users.

World Liberty Financial is also making strides in the stablecoin sector by seeking a U.S. bank charter to issue and custody its USD1 stablecoin. This move could challenge existing stablecoin leaders like Circle and Tether by embedding banking-grade oversight into a crypto-native product.

The future of the stablecoin market appears promising, with projections suggesting that payment flows could reach $56 trillion by 2030. This growth will likely depend on regulatory clarity, technological advancements, and continued institutional adoption.