Global stablecoin market crosses $300 billion in m-cap, says report

The global stablecoin market crossed a total capitalisation of $300 billion in October 2025, with daily average transaction volumes reaching $3.1 trillion, according to a Binance Research report.

 

This comes as stablecoins are expanding from their early role in crypto trading into wider use across payments, savings, and business transactions.

 

Monthly stablecoin payments have grown to over $10 billion as of August 2025, with 63 per cent of the volume cornered by business-to-business (B2B) transactions.

 

However, trading continues to account for 88.2 per cent of total stablecoin transaction value.

 

The report added that around 88 per cent of Binance’s monthly active users interact with non-trading products such as savings, payments, and conversions.

 

“As a digitally native, programmable, 24/7 operational, borderless form of money, stablecoins could be the gateway to a broad range of new financial products, businesses, and functionality encompassing trading, credit, payments, savings, and more,” the report said.

 

The focus on stablecoins for payments comes on the back of high transaction costs merchants have to bear when interacting with legacy systems.

 

The report added that stablecoins offer an alternative payments system to traditional payment rails, especially since merchants continue to pay a high fee for payments such as those accepted via credit cards.

 

Meanwhile, the market continues to be concentrated, with USDT and USDC together accounting for 84 per cent of circulating supply.

 

USDT is a fiat-backed stablecoin issued by Tether. Each token is designed to maintain a value of one US dollar. USDC is a fiat-backed stablecoin issued by Circle.

 

 

 

USDT and USDC account for the major share of stablecoins in circulation, at roughly 59 per cent and 25 per cent contribution, respectively.

 

 

 

The next phase of development for stablecoins would include improving liquidity between stablecoins issued on different blockchains, increasing regulatory focus on privacy and banking-system stability, focus on central bank digital currencies (CBDCs), and the growth of stablecoin-based micropayments.