Stablecoin transaction activity accelerated in the third quarter of 2026, even though the total value of stablecoins in circulation changed little over the past year. According to Cointelegraph, a Coinbase-commissioned report found that adjusted stablecoin transfer volume reached $891 billion for the quarter, with more than $400 million moving each hour on average.
Banks and companies expand stablecoin use
The research, conducted by The Block Research, points to growing use of stablecoins by financial institutions and businesses. Stablecoins are digital assets designed to maintain a relatively stable value, commonly by being linked to a fiat currency or other assets. They can be used to move money across blockchain networks, including outside traditional banking hours.
That around-the-clock capability was reflected in the report’s timing data: 73% of screened stablecoin transfer volume took place outside US banking hours, including at night, on weekends and during holidays.
Seven of the 10 largest US banks have tested either stablecoins or tokenized deposits for settlement, according to the report. Among mid-market companies involved in cross-border business, 30% are now using or piloting stablecoins, compared with 10% in 2024. Business-to-business payment volume also increased 36% year over year.
The report counted 293 million blockchain addresses holding stablecoins. That figure is higher than the combined number of cards issued by American Express and Discover, although the researchers cautioned that a blockchain address does not necessarily correspond to a single person. One individual or organization may control multiple addresses.
Adoption could improve payment liquidity, but projections are hypothetical
The study estimated that moving 80% of international transactions onto stablecoin networks could add $155 billion to global gross domestic product each year. It also said roughly $3 trillion in liquidity currently held by banks to support cross-border payments could be released.
Those figures are scenario-based estimates rather than measured economic gains. The researchers also noted a potential trade-off: broad adoption of stablecoins could reduce bank lending, which might offset some of the benefits associated with quicker and less expensive payments.
A separate survey from the National Cryptocurrency Association found that 42% of US adults—about 112 million people—would be more likely to open an account with a bank that offers crypto services or would use that bank for more financial needs. Eighteen percent said they wanted to buy or use stablecoins through their primary bank or financial institution.
At the same time, 64% said their bank, credit union or financial adviser had never discussed cryptocurrency with them, while 43% did not know whether their bank offered crypto services.
Market picture: stablecoin supply remains broadly flat
Despite the rise in transfer activity, the stablecoin market capitalization was $301.42 billion on Tuesday, down about 0.6% from $303.14 billion on October 20, 2025, based on DefiLlama data cited in the report. Standard Chartered recently delayed its forecast for a $2 trillion stablecoin market from 2028 to 2030, citing slower supply growth. Citi’s base-case projection is $1.9 trillion by 2030, with a bullish scenario of $4 trillion.
Moneyiar market data at 08:44 Tehran time on October 21, 2026, showed STABLE at $0.0270440449, up 7.09% over 24 hours and 1.64% over seven days. CAP was $0.06779367, down 0.93% in 24 hours and 22.62% over seven days. BAN stood at $0.0568848954, up 6.93% and 2.39%, respectively, while BAS traded at $0.0186189861, up 2.59% over 24 hours but down 11.62% over seven days.
