A new research report from Coinbase and The Block Research shows that stablecoins are becoming the “always-on dollar” for an economy that no longer closes. The study estimates stablecoins now move nearly $3 billion per hour, around the clock, with 73% of that volume occurring outside traditional U.S. banking hours.
According to the analysis, this off-hours activity highlights how stablecoins are used for cross-border wages, supplier payments, and around-the-clock commerce. For individuals, faster and cheaper dollar transfers can mean more money reaches home. For businesses, more efficient money movement keeps capital available instead of being trapped in low-yield or no-yield settlement accounts. Banks and payment providers may also benefit by reducing pre-funded cash buffers and freeing capital for other uses.
The report frames stablecoins as an alternative to legacy payment rails that are closed roughly a third of the time. It also points to growing adoption by banks and businesses, and suggests the same infrastructure could later support AI agents paying for services and transacting with one another. With institutional interest deepening, the findings may influence trading strategies and the regulatory conversation around digital assets.
