Stablecoin transaction volume hits $1.79 trillion in June

Adjusted stablecoin transaction volume surged to a record $1.79 trillion in June, signaling a significant shift in the digital asset landscape as these tokens mature into core financial infrastructure. The data, compiled by Visa’s on-chain analytics dashboard, shows a 63% increase from May’s $1.1 trillion and a 125% rise compared to June 2025, narrowly surpassing the previous high of $1.78 trillion set in February.

A key driver of this milestone is the dominance of Circle’s USDC, which accounted for approximately 67% of June’s volume, or about $1.21 trillion. This contrasts with Tether’s USDT, the largest stablecoin by market capitalization, which represented roughly 32% of the adjusted volume at $576 billion. The trend is even more pronounced over the first half of 2026, during which USDC commanded nearly 70% of all adjusted stablecoin transaction volume, while USDT’s share was about 25%.

Analysts attribute USDC’s lead in transaction activity to growing institutional adoption for payments and settlements, fueled by increasing regulatory clarity in major markets like the United States and Europe. Traditional financial institutions, including Standard Chartered and BNY Mellon,...