Bloomberg Intelligence projects that stablecoin payment flows could surge to a staggering $56.6 trillion by 2030, positioning blockchain-based tokens as a major global payments rail. This forecast is based on a baseline of $2.9 trillion in total flows for 2025, implying a compound annual growth rate of roughly 80% to reach the 2030 target.
Supporting this growth narrative, data from Artemis Analytics shows the global stablecoin transaction value hit $33 trillion in 2025, marking a 72% year-over-year increase. Activity accelerated sharply in the final quarter, with $11 trillion processed in Q4 compared to $8.8 trillion in Q3. The report emphasizes that this rise is driven less by speculative trading and more by real-world utility in cross-border payments, business settlements, and as a savings tool in inflation-hit economies.
Market dominance is highly concentrated. Circle's USDC led in transaction flow for 2025 with $18.3 trillion, while Tether's USDT processed $13.3 trillion. Together, these two assets accounted for over 95% of all stablecoin volume last year. Despite USDC's higher transactional activity, USDT maintained its dominance by market valuation, with a $186.9 billion market cap—more than double USDC's $74.9 billion. Bloomberg notes USDT remains the preferred choice for day-to-day payments and as a store of value, while USDC is favored within decentralized finance (DeFi) ecosystems.
This growth is attracting significant institutional infrastructure development. Barclays has taken an equity stake in fintech Ubyx, marking its first direct exposure to stablecoin technology focused on creating clearing infrastructure to make stablecoins function like digital cash equivalents. The state of Wyoming launched the Frontier Stable Token (FRNT), backed by U.S. dollars and short-term Treasurys, designed to return interest to the state and lower transaction costs. Furthermore, JPMorgan announced plans to bring its JPM Coin deposit token natively to the Canton Network, a blockchain selected by the DTCC for tokenizing traditional financial instruments.
In a parallel analysis, PwC Hong Kong released a report underscoring the "pivot role" stablecoins now play. It highlights their 24/7 availability, cost efficiency for cross-border payments, and role as a gateway to DeFi and B2B settlements. PwC estimates stablecoins processed approximately $46 trillion in transaction volume in 2025 and projects the market could grow from $234 billion to $2 trillion by 2028. The firm urges traditional financial institutions to position themselves as trusted distributors to capture new revenue streams and client bases, while navigating regulatory, technological, and compliance challenges.
