Key Takeaways
- USDT provide has surpassed $150 billion, now representing 63% of all stablecoins.
- Stablecoins averaged $521 billion in weekly switch quantity in 2025, far exceeding Visa and PayPal mixed.
- Visa, Mastercard, and PayPal have all launched stablecoin initiatives to maintain tempo with rising demand.
Tether’s USDT has reached a brand new milestone with over $150 billion in circulating provide, dominating 63% of the overall $238 billion stablecoin market as of Could 12.
This development comes as stablecoins common greater than $521 billion in weekly switch volumes throughout 2025, considerably outpacing conventional fee networks.
Stablecoins vs. conventional fee networks
Based on Artemis knowledge, stablecoins frequently outperformed Visa and PayPal in quantity.
For instance, throughout the week of Jan. 20, stablecoins processed $654.9 billion, surpassing Visa and PayPal’s mixed $351.2 billion by over $300 billion.
Related developments appeared on Jan. 6, Jan. 13, Jan. 27, and Feb. 3.
Components driving USDT’s development
Tether credited the surge in demand to its decade-long improvement and international adoption by over 400 million customers.
In 2024 alone, stablecoins processed $24.6 trillion—7.7% greater than the mixed quantity of Visa and Mastercard.
Conventional monetary corporations adapting
Conventional monetary corporations are adapting shortly.
Visa launched a platform in October 2024 for tokenizing fiat currencies and launched stablecoin-powered playing cards in Latin America.
Mastercard reported to the SEC that 30% of its 2024 transactions had been tokenized and unveiled a stablecoin-compatible card.
PayPal’s PYUSD resurgence
PayPal’s personal stablecoin, PYUSD, launched in 2023, noticed a resurgence this yr.
After dipping under $450 million in late 2024, its provide has practically doubled since February, now approaching $930 million.