Overview
- Morph’s State of Stablecoins report says dollar‑pegged tokens settled $33 trillion on‑chain in 2025, exceeding the card giants’ combined $25.5 trillion.
- The study finds roughly 60% of flows now come from business payments as companies use stablecoins for treasury moves, supplier payouts, and procurement.
- Surveyed financial institutions show broad engagement, with about 90% using or piloting stablecoins for settlement, liquidity, or collateral operations.
- Separate market data reports $7.5 trillion in stablecoin volume in March 2026, which would outpace the U.S. ACH network for the first time.
- Looking ahead, Morph projects settlements above $50 trillion in 2026 under clearer EU and U.S. rules, with AI‑driven automation cited as a potential catalyst by 2030.