Visa’s blockchain dashboard shows that stablecoin transactions continued to accelerate in 2026. Adjusted stablecoin transaction volume reached $1.79 trillion in June, setting a new monthly record; the cumulative volume for the first six months of this year totaled $8.82 trillion, significantly surpassing the full-year total for 2024.
June saw a record-high monthly trading volume.
According to Visa, adjusted transaction volume excludes bot activity, internal exchange transfers, and other on-chain records that do not represent genuine economic activity. Under this standard, stablecoin transaction volume in June increased by 63% compared to $1.1 trillion in May and by 125% compared to approximately $795 billion in June 2025.
For the first half of this year, the total reached $8.82 trillion, exceeding the full-year 2024 total of $5.8 trillion and remaining approximately $2 trillion short of the $10.8 trillion record set in 2025.
- June 2026: $1.79 trillion
- May 2026: $1.1 trillion
- June 2025: approximately $795 billion
USDC continues to widen the gap with USDT
From a stablecoin structure perspective, Circle’s USDC accounted for approximately 70% of adjusted trading volume in the first half of 2026, while Tether’s USDT accounted for about 25%, indicating that USDC continues to extend its lead.
This shift stands in stark contrast to the landscape of recent years. In 2020, USDT accounted for nearly 90% of adjusted trading volume, while USDC was under 10%. By 2022, USDC’s share had risen to approximately 45% and has continued to increase since then.
Banks are expanding their adoption to promote the use of stablecoins.
The growth in trading volume occurs as banks and financial institutions adopt stablecoins for payments, settlement, and fund management. The report notes that Standard Chartered and BNY Mellon have recently expanded services around USDC rather than building independent infrastructure.
This reflects financial institutions' preference for integrating with established fiat-backed digital asset networks. As payment and settlement demands grow, the usage of mature stablecoin networks is increasing, further boosting on-chain transaction activity.
- USDC's share in the first half of the year: approximately 70%
- USDT's share in the first half of the year: approximately 25%
- Total trading volume for the first half of the year: $8.82 trillion