Stablecoin transaction volume has surpassed the US Automated Clearing House network for the first time, marking a notable milestone for an asset class that has existed for fewer than 12 years. According to blockchain analytics platform Artemis, the 30-day adjusted rolling stablecoin volume reached $7.2 trillion in February, edging past the ACH network’s $6.8 trillion over the same period. The development signals a shift in how digital assets are positioning themselves within the broader global payments landscape.
The ACH network serves as the backbone of the US payments system, processing roughly 93% of salary payments in the country, according to Nacha, one of the primary bodies governing the network alongside the Federal Reserve. Surpassing such an entrenched system underscores the rapid growth stablecoins have experienced in recent years. Artemis data also shows that stablecoin volumes have grown consistently relative to other major financial platforms, including Visa and PayPal.
The momentum did not stop in February. Artemis data for March shows stablecoin volume climbed further to $7.5 trillion, again matching the ACH over that 30-day period. Analyst Alex Obchakevich described the trend in a post on X, stating that stablecoins are “quietly becoming the foundational infrastructure for global payments: no banks, no weekends, no borders.”
Total stablecoin supply also reached new heights in the first quarter of 2026, hitting $315 billion — an increase of $8 billion compared to the same period in 2025, according to data from CEX.IO. Stablecoins accounted for 75% of total crypto trading volume during the quarter, the highest level on record. Growing institutional adoption and a more favorable regulatory environment in the US have been cited as key drivers behind the expansion.
Analysts at Standard Chartered have projected that the total stablecoin market cap could reach $2 trillion by 2028, which would represent an increase of more than 530% from current levels. The forecast reflects broader confidence among traditional finance institutions in the sector’s long-term trajectory. Institutional interest has been further encouraged by legislative developments in Washington.
Frank Chapparo, content head at trading firm GSR, argued in a post on Tuesday that banks and fintech firms are “toast” if they continue to overlook the sector’s growth. He pointed to total stablecoin supply rising from under $30 billion in 2020 to over $300 billion as evidence that the signals are “everywhere.” Chapparo also highlighted the GENIUS Act as a key regulatory development that has helped unlock institutional participation in the stablecoin market.
Originally reported by CoinTelegraph.
