Stablecoin Transactions Surpass Visa In 2024 With $15.6T Volume: Report

• Stablecoin transactions surged in 2024, surpassing Visa and reaching a record $15.6T in volume.
• Tron led stablecoin activity, processing $5.46T, while Solana, Ethereum, and Base drove growth.
• Stablecoin supply hit $203B, making up 0.97% of the U.S. M2 money supply, per ARK Invest.

The transaction volume of stablecoins has grown rapidly, surpassing major payment networks in 2024. According to ARK Invest, stablecoins processed $15.6 Trillion in transactions this year, representing 119% of Visa’s total volume.

The data highlights the increasing adoption of blockchain-based payments as stablecoins outperform traditional financial networks.

Stablecoins Outpace Traditional Payment

From 2019 to 2020, stablecoin transaction volumes were significantly lower than Visa, Mastercard, and American Express.

However, by 2021, they saw a rapid surge, closing the gap with major financial networks. In 2024, stablecoins exceeded Visa’s total transaction volume, reaching nearly $16 Trillion.

Meanwhile, Visa maintained high transaction levels, processing over $12 Trillion. Mastercard followed an upward trajectory, recording almost $8 Trillion in transactions. American Express remained the smallest among the three, staying below $2 Trillion.

Among stablecoins, USDT transactions on the Tron network reached $5.46 Trillion in 2024. The network processed approximately 750 million transfers, reinforcing its position as a dominant player.

Monthly active stablecoin addresses also indicated Tron’s strength, particularly in emerging markets where low transaction fees drive adoption.

Blockchain Networks Driving Stablecoin Volume

Multiple blockchain networks contributed to the rising stablecoin transaction volume in 2024. ARK Invest identified Solana, Ethereum, and Base as key drivers alongside Tron.

December 2024 marked a record-breaking period, with stablecoin transactions hitting $270 Billion daily and a monthly total of $2.7 Trillion.

According to Tronscan, the volume of USDT transactions on the Tron blockchain increased steadily throughout the year.

Early in the reporting period, between late 2023 and early 2024, transaction volumes fluctuated between $5 Billion and $15 Billion.

By the end of 2024, they frequently surpassed $20 Billion and occasionally exceeded $30 Billion.

The number of monthly stablecoin transactions also grew significantly. ARK Invest reported that stablecoins facilitated 110 million transactions per month.

Despite this growth, stablecoin transaction counts represented just 0.41% and 0.72% of Visa and Mastercard’s volumes, respectively.

Stablecoins and Broader Digital Assets

Stablecoins remain a central part of the digital asset ecosystem, with Tether’s USDT and Circle’s USDC dominating the sector.

Together, they account for 90% of the total stablecoin supply. These assets operate across multiple blockchains, with a presence on almost every major Layer 1 network.

The total stablecoin supply reached $203 Billion in 2024, making up approximately 0.97% of the U.S. M2 money supply. December set another milestone as active stablecoin addresses hit an all-time high of 23 million.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.