Stablecoin transfers quadruple to $891B as US banks expand adoption

The divergence between quadrupling transfer volume and flat market capitalization is the real signal here: stablecoins are increasingly being used as a settlement rail rather than a store of value, with coins recycled through transactions instead of accumulating on balance sheets. The named involvement of US banks and businesses suggests this is institutional plumbing, not retail speculation, which matters for how regulators and payment incumbents view the sector. Whether transfer growth keeps outpacing supply, and whether bank participation broadens beyond the firms already cited, is the open question.