Digital Transactions Authoritative, insightful and timely information for payments professionals
Stablecoins have moved into the mainstream of digital payments, according to a report from cryptocurrency platform provider zerohash.
In 2025, stablecoin transaction volume as measured in U.S. dollars increased nearly seven-fold year over year, while the average transaction size rose 157%. In addition, the number of customers actively transacting with stablecoins on zerohash grew 146% from a year earlier
Zerohash used transaction data from its platform and its proprietary analysis to compile the report.
The growth in stablecoin usage spans several markets. Active stablecoin users on the zerohash platform were found in 106 countries last year, compared to 60 in 2024. Non-U.S. consumers were the fastest-growing segment of users in 2025, growing more than four-fold year over year. The growth of non-U.S. stablecoin users underscores “the global, cross-border nature of stablecoin adoption,” the report says.
Overall, the number of active stablecoin users increased 55% from the fourth quarter of 2024 to the same period in 2025, while transaction count grew nearly two-fold. The growth in active stablecoin users indicates that those users make repeated stablecoin transactions.
“This data aligns with the broader context that stablecoin users are increasingly repeat transactors,” the report says. “Usage spans geographies, customer segments, and business types, reflecting a shift toward mainstream, utility-driven adoption.”
Data from zerohash also shows that stablecoin users are deploying the cryptocurrency to make larger purchases. The average transaction size for stablecoin transactions on the zerohash platform increased 157% in 2025 from the previous year.
As for consumers’ preferred stablecoin, PayPal’s USD tops the list, accounting for 95% of all stablecoins. “As a rough guide, Circle issued USDC has an issued volume of $74.2 billion (as of Jan. 14, 2026) across 30 chains versus EUROC with an issued volume of $0.3 billion euros on six chains,” the report says.
The report also introduced a proprietary metric, which zerohash calls Stablecoin-Ready Accounts. The metric captures the number of consumer accounts on mainstream platforms where stablecoin functionality has been or is being enabled. Zerohash estimates there are more than 1.4 billion SRAs globally, before accounting for overlap.
“Stablecoins have moved past the question of whether they work and into the reality of how they scale,” zerohash chief executive and founder Edward Woodford says in a statement. “The data shows businesses using stablecoins to run meaningful financial operations: funding accounts, settling payments, and moving capital globally. In 2026, the focus shifts to execution: building infrastructure that can operate across borders, regulatory regimes, and use cases reliably and at scale.”
