Stablecoins Processed $35 Trillion in 2024, Yet Only 1% Used for Real-World Payments

A new report reveals a staggering $35 trillion in stablecoin transaction volume for the past year. However, the data indicates that a mere 1% of this colossal sum was utilized for real-world payments and commerce. The overwhelming majority of stablecoin transfers, including those of USDT and USDC, occurred within the cryptocurrency ecosystem. This activity primarily involved trading, lending, and other financial operations on blockchain networks. The findings highlight the dominant role of stablecoins as a settlement layer and liquidity tool for digital asset markets, rather than as a mainstream payment method for everyday goods and services. Analysts suggest this underscores the technology's current stage of adoption, where its utility is most pronounced in the crypto-native economy.