New analysis from McKinsey and Artemis Analytics shows that stablecoins moved more than $35 trillion on blockchain rails last year, but only about 1% of that activity was actual payments. The report estimates real-world stablecoin payments at $380 billion, a small slice of global payment flows. These figures separate headline transaction totals from transfers that touch end users, such as supplier payments, remittances or payroll funding.
Stablecoin Transaction Volumes in 2025
The total on-chain movement of stablecoins exceeded $35 trillion, but most of that volume did not represent end-user payments. According to the report, roughly 1% of stablecoin transactions were for real-world payments, which the authors count as activity that pays suppliers, funds payroll, or sends remittances. For additional perspective on how researchers and industry participants interpret these volumes, see stablecoins 2025 coverage.
Comparison with Global Payments
Real-world stablecoin payments—estimated at $380 billion—represent about 0.02% of total global payments volume. McKinsey places global payments at more than $2 quadrillion annually, which shows how small the current share of stablecoin payments is relative to the whole market. This contrast highlights the difference between raw on-chain activity and payment flows that replace existing rails.
Key Use Cases for Stablecoins
The report identifies three primary areas where stablecoins already serve as a payment vehicle. Business-to-business (B2B) transactions account for $226 billion in annual volume, reflecting suppliers and institutional flows that use stablecoins for settlement. Global payroll and remittances total $90 billion, while capital markets activity such as automated fund settlements contributed $8 billion last year.
Future Potential of Stablecoins
The authors note that lower-than-commonly cited payment volumes do not eliminate stablecoins' long-term potential; instead, they provide a clearer baseline for measuring progress. Understanding the current split between trading/internal transfers and payments helps set realistic expectations for how stablecoins might scale as a payments rail. For coverage on stablecoins as market infrastructure, see stablecoins infrastructure.
Почему это важно
Для майнера эти данные показывают, что большая часть на-chain активности — не платежи конечным пользователям, а внутренние переводы и торговля. Это значит, что текущее внимание к объёмам транзакций не обязательно отражает рост спроса на расчётные операции, которые могли бы повлиять на комиссионную нагрузку или приоритеты обработки.
Что делать?
Если у вас от одного до тысячи устройств, прямых действий, связанных с этой статистикой, может быть немного: продолжайте мониторить комиссии и задержки в сети, чтобы понимать себестоимость передачи средств для своих операций. При желании участвовать в платежных сценариях — например, в B2B-поставках или выплатах — изучите требования контрагентов и сервисов, которые поддерживают стейблкоины, прежде чем менять процессы.
