Total stablecoin on-chain transaction volume in the first half of 2025 reached approximately $4.6 trillion, with projections for the full year expected to exceed $8–$9 trillion if current trends continue. They account for 40% of total trading volume on crypto exchanges. Stablecoins processed volumes on-chain that rival or exceed traditional payment networks like Visa and Mastercard.
Crypto regulation continues. The passage of the GENIUS Act in the US and the implementation of the MiCA (Markets in Crypto-Assets) Regulation in the EU represent landmark shifts in the regulatory landscape for stablecoins and crypto assets. Both frameworks seek to provide clarity, consumer protection, and systemic stability in the digital assets market, but differ in focus, reach, and operational detail.