Stablecoins are poised to become a fundamental part of global finance, with adjusted transaction volumes expected to reach $719 trillion by 2035, according to a new report released Wednesday by blockchain research firm Chainalysis.
The growth, driven by adoption of organic products alone, signals a structural shift in how value flows across borders and in everyday commerce, the research firm added.
Stablecoins moved more than $35 trillion across the blockchain last year, noting that only about 1% was for real-world payments, according to a March report from McKinsey and blockchain data firm Atermis Analytics.
A key catalyst is the looming generational wealth transfer, with up to $100 trillion expected to shift from baby boomers to millennials and Gen Z over the coming decades. These younger cohorts, much more likely to use crypto as their default financial instrument, are poised to redefine payment preferences on a massive scale, integrating digital assets into mainstream economic activity.
“When crypto becomes the default for the next generation of capital, the question is no longer whether stablecoins compete with traditional rails, but how quickly they replace them,” Chainalysis said in its report.
At the same time, stable transaction volumes are rapidly converging with traditional payment networks. Chainalysis said current trends suggest that on-chain payments could match the volumes of Visa and Mastercard no later than 2039, putting direct competitive pressure on existing rails long defined by intermediaries, fees and settlement delays.
Unlike card networks, stablecoins enable near-instantaneous, 24/7 settlement and programmable transactions, reducing friction between remittances, business payments and treasury operations. As merchant adoption grows, paying with stablecoins is increasingly moving from a deliberate choice to an invisible infrastructure, the company added.
Chainalysis also introduces a new category of blockchain intelligence agents, aiming to help institutions navigate and operationalize this transition as digital assets move from the margins to the heart of global finance.
“The institutions that build on-chain payments now will define the next era of global finance, while those that wait risk moving in on someone else’s tracks,” Chainalysis said.
