Galaxy Predicts Stablecoin Volume Will Surpass ACH Transactions by 2026
Forget the old rails. A new payment network is quietly building velocity—and it's about to lap the traditional system.
The Tipping Point
Galaxy's forecast isn't just a projection; it's a flashing signal that the infrastructure of value transfer is undergoing a fundamental rewrite. The prediction that stablecoin transaction volume will eclipse the Automated Clearing House (ACH) network by 2026 marks a watershed moment. It signifies a shift from batch-processed, multi-day settlements to a world of global, near-instant finality operating 24/7.
Why Stablecoins Are Winning the Race
The mechanics are brutally efficient. Stablecoins bypass correspondent banking tangles, cut out intermediary fees, and collapse settlement times from days to seconds. This isn't merely an incremental improvement—it's a complete architectural overhaul. For businesses moving capital across borders or platforms processing microtransactions, the cost and latency advantages aren't just attractive; they're existential.
The implications ripple far beyond crypto-native circles. This surge in volume will be driven by enterprise adoption, embedded finance in traditional apps, and the relentless growth of global digital commerce. The rails are being laid not just for speculative trading, but for payroll, supplier payments, and treasury management—use cases where predictability and speed trump everything.
A Cynical Footnote from Finance
Of course, watching the ACH network—a system that still celebrates 'next-day' settlement as a feature—get overtaken by an asset class regulators spent years dismissing is the kind of ironic twist that makes finance so beautifully absurd.
The final takeaway? The plumbing of the global economy is being replaced in real-time. The question for any financial institution isn't if they'll engage with this new stack, but how quickly they can build a bridge to it before the old one becomes a relic.
TLDR
- Stablecoin volume is predicted to surpass ACH transaction volume by 2026.
- Stablecoin supply has grown at a 30%–40% annual growth rate, supporting predictions.
- Regulatory developments like the GENIUS Act are expected to boost stablecoin usage.
- Traditional financial companies are entering the stablecoin market, expanding adoption.
Galaxy Research, the research arm of Galaxy Digital, has forecasted that stablecoin transaction volume will exceed the total volume of the U.S. Automated Clearing House (ACH) system by 2026. This is based on current transaction data that shows stablecoins already process more volume than major credit card networks such as Visa, handling nearly half the transaction volume of ACH. The research points to ongoing growth in the stablecoin market, driven by rising adoption and regulatory developments.
Stablecoin Market Growing Rapidly
Stablecoin supply has been growing at an impressive compound annual growth rate (CAGR) of 30% to 40%, according to the research. The increasing usage of stablecoins in financial transactions plays a major role in this rapid growth. As more individuals and businesses opt for stablecoins over traditional payment methods, such as credit cards and bank transfers, the volume of stablecoin transactions continues to rise.
Galaxy’s report also mentions the role of regulatory clarity in driving this growth. With the expected implementation of definitions under the GENIUS Act, set for early 2026, the stablecoin market is expected to experience a boost in usage. This legal framework will provide much-needed clarity for businesses and users, making stablecoins a more attractive payment option.
Stablecoins Poised to Overtake ACH System
The Automated Clearing House system is one of the main methods for transferring money between banks in the U.S. It handles payroll, bill payments, and other types of electronic payments. However, stablecoins have rapidly gained ground in terms of transaction volume. According to Galaxy’s analysis, stablecoin transactions have already surpassed major credit card networks and are now processing about half of the ACH transaction volume.
Galaxy predicts that by 2026, stablecoin transaction volume will surpass that of the ACH system, especially as more financial institutions, fintech companies, and payment providers integrate stablecoin transactions into their operations. This shift could fundamentally change how digital payments are processed in the U.S.
Traditional Financial Institutions Increasing Involvement
Another factor contributing to the rise of stablecoins is the increased participation of traditional financial institutions. Companies like Western Union and Sony Bank are developing their own stablecoins, pegged to the U.S. dollar. Western Union announced its plans to launch a stablecoin built on the solana blockchain, while Sony Bank aims to introduce a dollar-pegged stablecoin for its services in 2026.
Furthermore, established fintech firms, such as SoFi, are also entering the stablecoin market. SoFi Technologies recently launched SoFiUSD, a fully reserved U.S. dollar stablecoin designed to provide low-cost settlement solutions for banks, fintech firms, and enterprise platforms. This continued involvement of major financial players is expected to boost the adoption of stablecoins and contribute to their increasing transaction volume.
Stablecoins Expected to Consolidate
As the stablecoin market expands, Galaxy predicts that the number of digital dollar projects will consolidate around one or two stablecoins with the broadest acceptance. This is because users and merchants are unlikely to adopt a wide variety of stablecoins. Instead, they will likely favor a limited number of stablecoins that offer the most widespread acceptance and support from financial institutions.
While the market is currently dominated by Tether’s USDT and Circle’s USDC, the influx of new stablecoins from traditional financial players signals that the landscape is changing. The future could see one or two dominant stablecoins that have the infrastructure, liquidity, and regulatory backing to drive their widespread adoption.
