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Stablecoins Hit $46 Trillion in Transfers as Tether Claims 500 Million Users

A16z pegs annual stablecoin transfers near $46 trillion, with issuers holding over $150 billion in Treasuries.

Overview

  • Tether says USDT now serves 500 million verified users worldwide, a company-reported figure without a disclosed counting methodology.
  • USDT’s circulating supply is about $182 billion, keeping Tether the market leader as total stablecoin float exceeds $300 billion.
  • Andreessen Horowitz reports roughly $46 trillion in trailing 12‑month stablecoin transfers, with adjusted economic volume around $9 trillion and September’s adjusted flow near $1.25 trillion.
  • Stablecoin issuers collectively hold more than $150 billion in U.S. Treasury securities, placing the sector among the largest buyers of short‑dated bills.
  • Tether is expanding in real‑world payments through an investment in Kenya’s Kotani Pay and is planning a U.S.-regulated USA₮ product under the GENIUS Act, with Bo Hines leading its U.S. arm.