Stablecoins are on the precipice of a monumental transformation in the financial ecosystem. According to a recent analysis by Galaxy Research, the transaction volume of stablecoins is set to surpass that of the U.S. Automated Clearing House (ACH) system by the year 2026. This bold prediction hinges on observed trends where stablecoins are already processing more volume than prominent credit card networks like Visa, amounting to nearly half of the ACH transaction volume.
The meteoric rise in the stablecoin market is underscored by a robust compound annual growth rate (CAGR) of 30% to 40%. This growth trajectory is fueled by increasingly prevalent use cases in everyday transactions, as businesses and consumers alike gravitate toward stablecoins to facilitate payments over traditional methods such as credit cards and bank transfers.
Galaxy’s report highlights that regulatory developments could play an instrumental role in this anticipated explosion in stablecoin adoption. The GENIUS Act, which is expected to come into effect in early 2026, is likely to provide the clarity necessary for both businesses and users to confidently engage with stablecoin transactions. This legal framework aims to define the operational guidelines for stablecoins, making them increasingly viable options for digital payments.
Currently, the ACH network remains a crucial channel for electronic funds transfers in the U.S., handling essential services such as payroll and bill payments. However, stablecoins are quickly closing the gap, with Galaxy’s analysis indicating that they are processing volumes comparable to half of the ACH’s total transactions. With the financial landscape evolving, Galaxy projects that mainstream adoption of stablecoins by financial institutions and fintech companies will catalyze this paradigm shift.
As part of this evolution, traditional finance players are making significant strides into the stablecoin arena. Iconic firms such as Western Union and Sony Bank are developing their own U.S. dollar-pegged stablecoins. Western Union has announced plans for a stablecoin built on the Solana blockchain, slated for launch, while Sony Bank aims to unveil a dollar-pegged stablecoin to enhance their service offerings in 2026.
Moreover, established fintech companies are following suit. SoFi Technologies has recently rolled out SoFiUSD, a fully reserved U.S. dollar stablecoin designed to provide cost-effective settlement solutions for a variety of financial platforms, which is anticipated to further bolster stablecoin adoption.
As the competitive landscape of stablecoins continues to evolve, Galaxy predicts a consolidation around one or two dominant digital dollar assets that achieve the broadest acceptance in the market. Historically, consumers and merchants have tended to favor a limited array of stablecoins that demonstrate reliability and have the backing of established financial institutions.
While the stablecoin market is currently led by Tether’s USDt and Circle’s USDC, the active participation of traditional financial players may herald a shifting paradigm, paving the way for one or two main stablecoins equipped with the infrastructure, liquidity, and regulatory backing to champion widespread adoption in the coming years.
This potential for stablecoins to imminently eclipse ACH transactions signifies a pivotal moment in the evolution of digital finance and the broader acceptance of blockchain technology in everyday life.
