Visa Data: Stablecoin Transaction Volume Reached $1.79 Trillion in June, a New Record

According to data from payment giant Visa, the adjusted stablecoin transaction volume in June this year reached a record $1.79 trillion, a 63% increase from $1.1 trillion in May, and also surpassed the previous high of $1.78 trillion set in February, with a year-over-year increase of 125%.

Grayscale Research Director Zach Pandl analyzed on Sunday that the record monthly stablecoin transaction volume in June reflects the continued strong growth momentum of the stablecoin market.

The analysis noted that although the overall cryptocurrency market is in a bear market, the significant growth in stablecoin transaction volume indicates its expanding use in real-world applications such as payments, decentralized finance, and cross-border transfers.

In terms of currency distribution, Circle's USDC accounted for approximately 67% of the transaction volume ($1.21 trillion), Tether's USDT accounted for about 32% ($576 billion), and PayPal's PYUSD ranked third with $2.42 billion.

From a network distribution perspective, Coinbase's Ethereum Layer-2 network Base topped the list with $56.5 billion (31.5%), followed by the Ethereum mainnet with $56.2 billion, and Tron with $32 billion in third place.

Visa also collaborated with several data analysis and research institutions to develop a transaction volume statistical method. This method removes a bunch of "wash trading" data, including bot transactions, internal exchange transfers, and duplicate bookkeeping records, thereby ensuring the authenticity of the data.

LVRG Research Director Nick Ruck stated that this record stablecoin transaction volume in June demonstrates the resilience of the infrastructure, indicating that stablecoins have transcended speculative tools and become a core part of the value transfer and liquidity infrastructure.

He further predicted that as stablecoins gradually mature and evolve into the foundational layer of the Web3 economy, their application scope and influence in the global financial system will continue to expand.

It is worth noting that this trend has received a positive response from the market. This month, new market player Open Standard announced the launch of the stablecoin Open USD (OUSD), which has received support from over 140 companies, including Visa and Mastercard.

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