Stablecoin transaction value in 2024 reached $15.6 trillion, overtaking traditional payment firms Mastercard and Visa by more than 100%.
According to the ARK Invest Big Ideas 2025 Report published on Feb. 4, stablecoin adoption continues to grow rapidly, especially in 2024. The annual transaction value of stablecoins reached a five-year record high, hitting $15.6 trillion. When compared to traditional payment card giants like Visa and Mastercard, stablecoin transaction value in 2024 surpassed them by 119% and 200% respectively.
On a monthly basis, the number of stablecoin transactions amounted to $110 million, which was around 0.41% and 0.72% more compared to transactions processed through Visa and Mastercard. These findings indicate that more people used stablecoins to transfer their funds in 2024 compared to credit card companies like Visa, Mastercard and American Express.
“Despite a two-year bear market and a 70%+ decline in market capitalization, stablecoin growth has remained uninterrupted,” wrote ARK Invest.
When compared to the previous year, stablecoin transaction value in 2024 more than doubled, increasing from around $7 trillion to $15.6 trillion within the span of one year.
Stablecoin volume processed in blockchains also hit a record-high in December 2024.The daily transaction volume for stablecoins in December 2024 reached $270 billion and a monthly volume of $2.7 trillion. At the time of writing, Tether (USDT) and Circle (USDC) remain the top two stablecoin issuers by market cap.
Solana (SOL), Tron (TRX), Ethereum (ETH) and Base (BASE) were the largest contributors of stablecoin volume when measured by blockchain.
Not only that, a recent report from CryptoQuant showed that the total market cap for stablecoins also reached an all-time high at $204 billion, representing a 22 percent rise in value since Trump won the U.S. Presidential Election.
As previously reported by crypto.news, Donald Trump’s appointed “Crypto Czar” David Sacks said that stablecoins could help strengthen the global dominance of the U.S. dollar. Just a few hours prior, Senator Bill Hagerty introduced a new stablecoin bill called the “Guiding and Establishing National Innovation for US Stablecoins” or GENIUS Act.
The bill presents a regulatory framework aimed at growing the stablecoin market in the United States.
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