Cross-border Stablecoin Payments Surge 78% to $220 Billion
BITmarkets Team
Sep 23, 2026
In its 2026 Global Crypto Adoption Index, Chainalysis reported that cross-border stablecoin flows reached $220.3 billion during the 12-month period, up from $124.2 billion in the previous year. The increase came despite the total cryptocurrency market capitalization falling 37% to $2.1 trillion over the same period. “The bear market hit the price-sensitive half of crypto and left the payments half alone,” Chainalysis said.
Stablecoins gain ground in cross-border payments
The growth suggests that demand for cryptocurrencies is increasingly extending beyond speculative trading. Stablecoins, which are generally designed to maintain a stable value against assets such as fiat currencies, have become more integrated into mainstream financial services.
Regulatory developments have also brought stablecoins further into established financial frameworks. The US enacted the GENIUS Act in July 2025, while the European Union has introduced stablecoin requirements under MiCA and Hong Kong has established its own licensing regime for issuers.
According to Chainalysis, much of the cross-border growth came from transfers averaging around $3,000, consistent with practical uses such as paying suppliers, sending remittances or protecting savings from volatile local currencies. “Activity has become consistent, routed through wallets in a steady rhythm rather than in bursts,” Philip Gradwell, vice president of economics at Tether, told Chainalysis. “That is the signature of trade and business activity, not speculation.”
Tianwei Liu, co-founder and CEO of StraitsX, said fragmented currencies and payment infrastructure are contributing to stablecoin demand across Asia. “That demand is also extending into everyday spending, with stablecoins sitting behind payment methods people already use,” Liu said.
Outside Asia, stablecoins can serve different purposes, including providing access to US dollars, facilitating remittances and offering an alternative for users facing inflation or capital controls in regions such as Latin America, Africa and the Middle East.
Stablecoin payment corridors continue to expand
Chainalysis identified 4,708 new cross-border corridors during the reporting period, representing routes between originating and receiving countries. Together, these new corridors processed $2.64 billion in stablecoin transfers.
Activity remained concentrated among the most established routes, with the top quarter of corridors accounting for 96.1% of measurable cross-border stablecoin value. However, the remaining three-quarters handled $8.66 billion, a significant increase from $260 million in the previous period.
Vincent Chok, co-founder and CEO of First Digital, said traditional payment infrastructure remains effective along established routes but can become increasingly fragmented when businesses operate across different banking systems, currencies and settlement schedules.
Stablecoins provide an alternative, but their wider adoption still depends on factors including regulatory clarity, reliable redemption mechanisms, local currency access and integration with existing financial infrastructure. “Onchain settlement is fast, but it doesn’t solve the off-chain parts: converting to local currency, meeting compliance requirements, and moving funds through existing banking rails,” Chok said.
Payment companies expand stablecoin services
Traditional remittance providers are also increasing their involvement in stablecoin-based payments. Western Union launched a stablecoin wallet and Visa-linked card across 37 markets in August, allowing customers to hold and spend its branded US dollar-backed stablecoin.
MoneyGram followed with a similar card initiative in September, initially launching the service in Colombia and planning to expand into additional markets later in the year. These developments come as stablecoins increasingly move beyond crypto-native platforms and become integrated into payment products used for international transfers and everyday spending.
Sources:
https://cointelegraph.com/news/stablecoin-cross-border-flows-surge-78-defying-crypto-bear-market
https://www.chainalysis.com/blog/2026-global-crypto-adoption-index/
