Stablecoin Transfers Reach $891 Billion as Banks Accelerate Blockchain Adoption
Stablecoins are becoming an increasingly important part of global payments, with a new report showing that adjusted transaction volumes reached $891 billion in the third quarter of 2026.
The findings, published on October 20 by Coinbase and The Block Pro Research, suggest that stablecoin activity has more than quadrupled since early 2023.
The report, titled The Always-On Dollar: Money for an Economy That Doesn’t Close, highlights the growing role of digital dollars in international transfers, business payments and financial settlement.
It also found that approximately 73% of screened stablecoin transfer volume occurred outside normal US banking hours, highlighting one of blockchain’s main advantages: the ability to move money around the clock.
Stablecoin Transfers Have Quadrupled Since 2023
Stablecoins are cryptocurrencies designed to maintain relatively stable values, typically by tracking currencies such as the US dollar.
Popular examples include Tether’s USDT and Circle’s USDC.
Unlike ordinary bank transfers, stablecoins can move across supported blockchain networks at any time, including weekends and public holidays.
According to the new research, adjusted stablecoin transaction volume reached $891 billion during the third quarter of 2026.
The figure excludes certain automated and artificial blockchain activity using the researchers’ screening methodology.
However, it does not mean that $891 billion in unique purchases or real-world remittances took place. Blockchain transfer activity can include trading, treasury movements and transfers between accounts controlled by the same organisation.
The research also found that stablecoins moved more than $400 million per hour on average in screened transfer activity.
Why Are Stablecoins Moving Outside Banking Hours?
Conventional international payments often depend on banks and clearing systems operating during specific business hours.
This can create delays when payments are initiated late on Fridays, during weekends or across different time zones.
Stablecoin networks operate continuously.
For example, a Kenyan software developer receiving USDC from an overseas client could potentially receive the blockchain transfer on a Sunday rather than waiting for international banking operations to resume.
However, converting the funds into Kenyan shillings may still depend on the payment provider’s operating arrangements, liquidity and compliance procedures.
For businesses, continuous settlement can reduce the time money remains tied up while payments are being processed.
According to The Block’s coverage of the research, these improvements could help companies manage working capital more efficiently.
Major US Banks Are Experimenting With Stablecoins
The research also highlights growing interest from traditional financial institutions.
According to Coinbase and The Block Pro Research, seven of the ten largest US banks have already tested stablecoins or tokenised deposits for settlement.
The remaining three have indicated plans to explore similar technologies.
This suggests that blockchain-based payments are no longer limited to cryptocurrency exchanges and decentralised finance platforms.
Banks are increasingly investigating whether digital tokens can improve financial settlement and reduce operational friction.
However, conducting a pilot or testing tokenised deposits does not necessarily mean a bank has launched a public stablecoin payment service.
Could Stablecoin Transfers Reach $1.5 Trillion Per Quarter?
The report projects that adjusted quarterly stablecoin transaction volume could reach approximately $1.5 trillion by the end of 2027, assuming the current growth trajectory continues.
That would represent a substantial increase from the third quarter’s $891 billion.
However, the figure is a projection rather than a guaranteed outcome.
Changes in cryptocurrency regulation, banking adoption, market conditions and stablecoin demand could all affect future activity.
The study also estimated that approximately 293 million unique blockchain addresses hold stablecoins.
Importantly, the number of blockchain addresses is not the same as the number of people using stablecoins. A single individual or organisation can control multiple addresses.
Frequently Asked Questions
How much stablecoin volume was recorded in Q3 2026?
Coinbase and The Block Pro Research reported $891 billion in adjusted stablecoin transaction volume.
Does $891 billion represent actual payments to businesses?
Not necessarily. The figure measures adjusted blockchain transfers and can include different types of financial activity.
Why are stablecoins useful outside banking hours?
Supported blockchains can process transfers continuously, including at night, on weekends and during public holidays.
Are banks adopting stablecoins?
Several major banks are testing stablecoins and tokenised deposits for settlement, although testing does not necessarily mean commercial deployment.
Can stablecoins make international transfers cheaper in Africa?
Potentially. Costs depend on blockchain fees, conversion charges, exchange rates and local payment providers.
