USDT Leads Stablecoin Surge as Market Shifts from Speculation to Utility in Q3 2025
The stablecoin market has reached a pivotal inflection point, with $41 billion in net inflows during Q3 2025 marking the strongest quarterly expansion since 2021. Orbital's Stablecoin Retail Payments Index reveals a maturation phase: retail adoption growth has stabilized after a 69% user increase between mid-2024 and mid-2025, settling at 3.6 million daily active users. This surge underscores the growing utility of stablecoins like USDT in everyday transactions, moving beyond speculative trading. As of November 2025, the data signals a robust shift toward practical applications in the crypto economy, with USDT at the forefront of this transformation.
Stablecoin Payments Surge $41 Billion In Q3 2025 as Market Shifts From Speculation to Utility
The stablecoin market has reached a pivotal inflection point, with $41 billion in net inflows during Q3 2025 marking the strongest quarterly expansion since 2021. Orbital's Stablecoin Retail Payments Index reveals a maturation phase: retail adoption growth has stabilized after a 69% user increase between mid-2024 and mid-2025, settling at 3.6 million daily active users.
Payment volumes tell a more nuanced story. While transaction counts dipped slightly to 1.21 billion, total settlement value grew 4% to $1.77 trillion—a clear signal that stablecoins are increasingly facilitating substantive transfers rather than small-scale speculative activity. The average transaction size has notably increased, with sub-$10,000 transfers giving way to larger-value movements.
Tether's USDT maintains an iron grip on retail payments, commanding 83% market share. Meanwhile, Circle's USDC has become the preferred settlement asset in DeFi protocols, capturing over half of that sector's activity. Exchange flows continue to concentrate around Binance, though the report suggests emerging economies are driving the most significant use-case evolution.
Crypto Remittance in India Rises as NRIs Ditch Banks for USDT
Non-resident Indians are increasingly turning to crypto remittances, particularly Tether (USDT), as a more profitable alternative to traditional banking channels. The stablecoin trades at a 4-5% premium in India, allowing senders to extract greater value from each dollar converted.
Economic Times data reveals the arbitrage opportunity: $1,000 remitted via banks yields ₹88,600, while the same amount converted through USDT generates approximately ₹93,150. This ₹4,500 premium has catalyzed adoption among money changers who now facilitate peer-to-peer stablecoin transfers between wallets, bypassing slower banking infrastructure.
The operational model is straightforward. Transfer shops purchase USDT abroad and route it to domestic partners, who liquidate the assets for local currency. This closed-loop system demonstrates how crypto networks are displacing legacy financial intermediaries through pure economic incentives.
Gujarat CID-Crime Exposes ₹200 Crore Cross-Border Crypto Laundering Ring
Gujarat CID-Crime has dismantled a major cryptocurrency laundering network operating between India and Pakistan. The operation centered on Chetan Gangani, a Surat resident, who facilitated the conversion of ₹10 crore from mule accounts into USDT (Tether) before transferring it to a Pakistani wallet. Gangani was part of a larger syndicate using over 100 mule accounts across Gujarat to launder proceeds from online scams.
Investigators estimate the network moved more than ₹200 crore to cybercriminals in Dubai and Pakistan. The Pakistani wallet alone held ₹29 crore, with ₹10 crore traced directly to Gujarat. Gangani's modest 0.10% commission per transaction highlights how local actors are exploited for cross-border fund movements.
