Stablecoins Dominate 60% of Crypto Transactions Amid Regulatory Shifts

Stablecoins now command 60% of global cryptocurrency transaction volume, signaling their entrenched role in digital asset markets. The sector's growth persists despite regulatory ambiguity, though the recent passage of the Genius Act in the U.S. Senate may soon provide clarity.

In Q1 2025, dollar-pegged stablecoins alone accounted for 28% of total crypto volume, with TRM Labs data showing they consistently represented at least 4% of market capitalization throughout 2024-2025. These assets have evolved beyond trading vehicles to become critical infrastructure for payments, remittances, and dollar access in emerging markets.

Over 90% of fiat-backed stablecoins are USD-denominated, driving adoption in Latin America, sub-Saharan Africa, and Southeast Asia as alternatives to fragile local banking systems. TRM's analysis reveals 99% of 2024 stablecoin activity facilitated legitimate use cases, from cross-border settlements to decentralized finance applications.