TheBlock
Stablecoins moved more than $400 million per hour in organic transfer activity during the third quarter, with about 73% of transfers over the 12 months ending July 31 occurring outside U.S. banking hours. Coinbase and The Block Pro Research said adjusted stablecoin volume quadrupled from the start of 2023 to $891 billion in Q3.
Why it matters
The report frames stablecoins as an always-on dollar rail for businesses and consumers. Continuous settlement can reduce payment delays and the need to pre-fund accounts, leaving more working capital available for operations or investment. For retail users, a $200 USDC remittance on Base was about 86% cheaper than using traditional rails.
Adoption is also moving into the banking system. Seven of the 10 largest U.S. banks have tested stablecoins or tokenized deposits for settlement, while the other three have signaled plans to follow. The report counted 293 million blockchain addresses holding stablecoins, while noting that addresses do not equal individual users.
Market impact
At current growth rates, the report projects quarterly adjusted stablecoin transfer volume could reach $1.5 trillion by the end of 2027. It also estimates that moving 80% of international transactions onto stablecoin rails could add $155 billion to annual global GDP.
The next major use case may be the agentic economy. McKinsey expects AI agents to mediate $3 trillion to $5 trillion of global business-to-consumer commerce by 2030. Stablecoins could support small, one-off payments between agents for API calls, data and compute, areas legacy billing systems were not designed to handle.
Frequently asked questions
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How much stablecoin activity occurred outside U.S. banking hours?
About 73% of stablecoin transfers over the 12 months ending July 31 took place outside U.S. banking hours.
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How much did adjusted stablecoin volume reach in Q3?
Adjusted stablecoin transaction volume reached $891 billion in Q3, after quadrupling from the start of 2023.
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How much cheaper was a $200 USDC remittance on Base?
The report said sending a $200 remittance in USDC on Base was about 86% cheaper than using traditional payment rails.
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How many U.S. banks have tested stablecoin settlement?
Seven of the 10 largest U.S. banks have tested stablecoins or tokenized deposits for settlement, with the remaining three signaling plans to follow.
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Why could stablecoins matter for AI agents?
Stablecoins can let AI agents make small, one-off payments for API calls, data or compute without subscriptions or billing accounts.
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