- Stablecoin payments reached $11.2T in 2025, approaching Mastercard’s reported transaction volume during the same period.
- The chart shows stablecoin activity rising sharply since 2020, with $8.5T recorded during H1 2026.
- Stellar supports several major stablecoins, while XLM provides native utility across the network’s payment infrastructure.
Stablecoin payments are expanding rapidly, while blockchain networks increasingly support digital value transfers across global markets, creating new questions around infrastructure, settlement, adoption, and demand.
Stablecoin Volume Reaches Major Payment-Network Scale
ALLINCRYPTO’s post pointed to BlackRock’s report and its stablecoin volume data. The post cited $11.2 trillion processed by stablecoins during 2025. It also referenced another $8.5 trillion recorded during H1 2026.
The accompanying chart compares stablecoins with Visa and Mastercard transaction volumes. Mastercard reached $10.6 trillion in the chart during 2025. Visa recorded a higher $16.7 trillion figure over the same period.
However, the report notes that these measurements are not directly comparable. Stablecoin figures use adjusted transaction activity across selected blockchain networks. Card networks follow different reporting methods and transaction measurement frameworks.
The historical data shows a clear increase in stablecoin activity.Volume was still constrained until 2020 when it increased. Activity then expanded through 2021, 2022, 2023, and 2024.
Stellar Connects Stablecoins With Digital Settlement
The chart places stablecoins within a broader digital payments transition. Their transaction volumes have expanded alongside growing blockchain infrastructure. That activity creates greater demand for networks supporting issuance and settlement.
The post specifically points toward Stellar within this developing market. The post identifies USDC, PYUSD, EURC, and USDT on Stellar. These assets provide different stablecoin options across the network’s infrastructure.
Stellar supports digital asset transfers between accounts across its blockchain. Its infrastructure can facilitate payments involving stablecoins and other issued assets. That positioning connects Stellar with the broader stablecoin settlement market.
XLM also performs native functions within the Stellar network. It supports transaction fees and account reserve requirements across the protocol. Therefore, network usage and XLM utility remain connected through Stellar’s infrastructure.
XLM Faces a Broader Network-Usage Question
XLM as of writing trades at around $0.2172, according to CoinMarketCap data. Its September 28 rate remains near the recent trading range. The token has also gained over recent weeks despite short-term price fluctuations.
Still, stablecoin growth does not automatically create equivalent XLM demand. Stablecoin transfers can increase without producing matching token purchases. XLM demand depends partly on its specific network functions and usage.
The BlackRock report also discusses machine-native digital transactions. Such systems could eventually connect software agents with programmable payments. That concept extends stablecoin utility beyond conventional human payment activity.
For Stellar, measurable network activity remains important when assessing adoption. Transaction counts, settlement volumes, liquidity, and active accounts provide useful indicators. XLM demand remains a separate metric within that broader network assessment.
