Chainalysis: stablecoin volumes could reach $719T by 2035 — and $1.5 quadrillion if macro catalysts align.

Chainalysis projects stablecoin settlement volumes could hit $719 trillion by 2035 under a base-case scenario, with an upper bound of $1.5 quadrillion if major macro catalysts — such as broad institutional adoption or sovereign integration — materialise. The figures represent a step-change from current volumes and would make stablecoins the dominant rail for global value transfer.

The range reflects genuine uncertainty around regulatory frameworks and reserve-currency dynamics, but even the conservative number implies stablecoins graduating from a crypto-native tool to core financial infrastructure. For context, global card network volumes run in the tens of trillions annually — the Chainalysis ceiling is an order of magnitude beyond that.

The forecast adds analytical weight to the legislative push around stablecoin regulation currently moving through several jurisdictions, where…