Stablecoin payments reach $482 billion amid new services from Visa and Mastercard

Stablecoin payment volumes reached $482 billion through September 30, marking a 45% increase compared to the previous year. According to data from Allium, transaction counts rose by 71% during the first nine months of the year, even as the average payment value decreased from $544 to $462.

While payment activity has surged, the total stablecoin supply remained relatively flat, growing only 0.4% to $305 billion by the end of September. This indicates a trend of increased usage despite stagnant supply growth. Major financial institutions are expanding their involvement in the sector:

- Mastercard launched the Global Money Platform in collaboration with BVNK, allowing businesses to manage fiat and stablecoin balances and issue linked cards. - Visa transitioned its stablecoin prefunding for Visa Direct from a pilot phase to commercial deployment, enabling businesses to use USD Coin (USDC) for cross-border payouts. - Stripe is developing a multi-currency card experience designed to support various currencies, including the U.S. dollar, euro, Brazilian real, Mexican peso, and Colombian peso.

Additionally, payments made by AI agents doubled to 68.3 million transactions in the third quarter.