RESEARCH: Stablecoins settled roughly $35T onchain in 2025, more than @Visa and @Mastercard combined.

First reported Oct 22, 2026, 13:00 UTC

Source reports

RESEARCH: Stablecoins settled roughly $35T onchain in 2025, more than @Visa and @Mastercard combined. Only about $390B of it was a real payment. A new CoinDesk Research report maps where the value actually went, and why @crediblefin is building for the gap in between. — @CoinDesk (X), Oct 22, 2026, 13:00 UTC

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