On-chain dollars hit 2.3% of global payments: Why Bitcoiners should care
The post On-chain dollars hit 2.3% of global payments: Why Bitcoiners should care appeared on BitcoinEthereumNews.com.
Stablecoins were used to move roughly $46 trillion over the past 12 months, according to new a16z crypto report. Beyond that, over $80 trillion has been processed in crypto trading volume across the same time period. Framed against payment “flows,” the stablecoin tally places on-chain dollars within low single-digit share of global settlement, and it is beginning to sit alongside mainstream rails in scale for specific use cases such as cross-border transfers and 24/7 treasury moves. The reference point matters. Using global payments value of roughly $2 quadrillion for 2024, stablecoins account for about 2.3% of the world’s payment flows on a flow-to-flow basis. That comparison keeps the denominator consistent and avoids a common apples-to-oranges pitfall in which a flow series is stacked against a money stock. For readers who still want the provocation, a $46 trillion flow divided by about $22.195 trillion of U.S. M2 money stock, the August 2025 reading, produces a raw ratio near 207%, though the series measure different things and should not be interpreted as a “share of dollars.” Per FRED and McKinsey, the correct takeaway is that stablecoins have entered the payments conversation in flow terms. For U.S. benchmarks, stablecoins remain smaller than wholesale wires and roughly half of the automated clearing house system on an annualized basis. The Federal Reserve’s Fedwire Funds Service moved about $1.133 quadrillion in 2024, and Nacha’s ACH value, annualized from third-quarter 2025 volumes, is near $93 trillion. Those anchors show where on-chain dollars fit today and where the slope could matter if policy and distribution continue to open doors. Rail / Metric Value Timebase Source Stablecoin settlement (TTM) ~$46T Trailing 12 months, 2025 a16z crypto ACH value (annualized) ~$93T Q3 2025 run-rate Mastercard Fedwire Funds value ~$1.133Q Full year 2024 FRBservices Global payments value ~$2.0Q Full year 2024…
Filed under: News - @ October 23, 2025 12:27 pm