Stablecoins could facilitate as much as $1.5 quadrillion in annual transaction volume by 2035, potentially eclipsing established payment networks, according to a new report from blockchain analytics firm Chainalysis. Even without significant catalysts, the firm projects adjusted stablecoin volume would reach $719 trillion based on existing growth trends alone. However, it identifies two major structural shifts that could more than double that figure within the decade.
The first catalyst involves a generational wealth transfer expected to unfold between 2028 and 2048, during which an estimated $100 trillion will pass from Baby Boomers to younger generations. Millennials and Gen Z adopt cryptocurrency at substantially higher rates than their predecessors, with nearly half of those cohorts having held or currently holding crypto assets, according to 2025 survey data from Gemini cited in the report. Chainalysis estimates this demographic shift alone could add $508 trillion to annual stablecoin transaction volumes by 2035.
The second major driver is the integration of stablecoins into everyday point-of-sale commerce. Broader retail adoption could contribute an additional $232 trillion in annual volume as stablecoins move beyond speculative trading and into routine consumer transactions. Together, these two forces form the basis for the firm’s more optimistic projection of $1.5 quadrillion in annual activity.
Regulatory developments are also accelerating the timeline for mainstream adoption. The report points to the GENIUS Act, signed into law by President Donald Trump last summer, as a signal that U.S. policymakers are treating stablecoin infrastructure as a serious policy priority. Chainalysis views this legislative momentum as further evidence that the conditions for large-scale stablecoin adoption are falling into place.
Major players in traditional finance are already responding to these trends. Payment technology company Stripe acquired Bridge for $1.1 billion, while Mastercard recently announced a deal to acquire BVNK at a valuation of up to $1.8 billion. According to the Chainalysis analysis, these moves indicate that established payment processors view stablecoins as unavoidable infrastructure rather than a peripheral technology.
Current performance data supports the scale of these projections. Stablecoins processed $28 trillion in real economic volume in 2025, with adjusted volume growing at a compound annual rate of 133% since 2023. At that pace, stablecoin payment volumes are expected to match the combined off-chain transaction volumes of Visa and Mastercard sometime between 2031 and 2039.
Chainalysis frames the situation as an inflection point for financial institutions. In the report, the firm states that the blockchain has become essential infrastructure for the next era of global payments, and that institutions building for this reality now will be positioned to shape it. Those that delay, the firm warns, may find themselves processing transactions on infrastructure controlled by others.
Originally reported by Decrypt.
