Stablecoins are on track to become a foundational layer of global finance, with adjusted transaction volumes expected to reach $719 trillion by 2035, according to a new report from blockchain research firm Chainalysis on Wednesday.
The growth, driven by organic adoption alone, signals a structural shift in how value moves across borders and through day-to-day commerce, the research firm added.
Stablecoins moved more than $35 trillion on blockchain rails last year, noting that only about 1% was for real-world payments, according to a March report by McKinsey and blockchain data firm Atermis Analytics.
A key catalyst is the looming generational transfer of wealth, with as much as $100 trillion expected to pass from Baby Boomers to Millennials and Gen Z over the coming decades. Far more likely to use crypto as a default financial instrument, these younger cohorts are set to redefine payment preferences at scale and integrate digital assets into mainstream economic activity.
“As crypto becomes the standard 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, stablecoin transaction volume is rapidly converging with traditional payment networks. Chainalysis said current trends suggest onchain payments could match Visa and Mastercard’s volumes by 2039 at the latest, putting direct competitive pressure on legacy rails long defined by middlemen, fees and delayed settlement.
Unlike card networks, stablecoins enable near-instant, 24/7 settlement and programmable transactions, reducing friction across money transfers, corporate payments and treasury operations. As merchant adoption expands, paying with stablecoins is increasingly shifting from a conscious choice to invisible infrastructure, the firm added.
Chainalysis also introduces a new category of blockchain intelligence agents that aim to help institutions navigate and operationalize this transition as digital assets move from the margins to the core of global finance.
“The institutions that build for onchain payments now will define the next era of global finance, while those that wait risk settling on someone else’s rails,” Chainalysis said.
