Stablecoins are no longer just a tool for crypto traders. They are on track to challenge one of the most important payment systems in the U.S. financial system.
In its latest annual predictions report, Galaxy Digital said stablecoins could surpass the ACH in transaction volume by 2026, pointing to rapid growth in both usage and adoption.
ACH currently powers everyday payments like payroll, bill payments, and bank transfers. Galaxy believes stablecoins are now close enough in scale to seriously compete.
Stablecoin Transactions Are Already Closing the Gap
Galaxy’s research shows that stablecoin activity has grown quickly over the past few years. Stablecoins already process more transaction volume than major credit card networks like Visa and now handle roughly half of ACH’s volume.
“Stablecoin velocity remains remarkably high compared to its traditional counterparts,” said Thad Pinakiewicz, Vice President of Research at Galaxy Digital. “We have seen a continued 30%-40% CAGR in stablecoin supply growth, with transaction volume increasing in tandem.”
According to DefiLlama data, the stablecoin market is now valued at around $309 billion, led by Tether’s USDT and Circle’s USDC.
Regulation Could Speed Up Growth
Galaxy highlighted regulation as a key driver behind its 2026 prediction. The GENIUS Act, expected to be finalized in early 2026, would establish clear rules for stablecoin issuance under FDIC supervision.
The framework would require full reserve backing and strong governance standards, giving banks a regulated path to issue dollar-backed stablecoins.
“With the GENIUS Act definitions to be solidified in early 2026, we could easily see stablecoin growth accelerate beyond its historical average CAGR,” Pinakiewicz said.
Institutions Are Moving In
Stablecoins are already gaining traction in traditional finance. Visa has expanded its stablecoin settlement program for U.S. banks using USDC on Solana, allowing faster, around-the-clock transactions.
Outside the banking sector, companies like Western Union and Sony Bank have announced plans to launch their own stablecoins, signaling broader acceptance beyond crypto-native firms.
Why This Matters
If stablecoins overtake ACH, it could change how money moves across the U.S. economy especially for payments, settlements, and cross-border transfers.
One thing is clear: stablecoins are moving steadily toward the center of the financial system.
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FAQs
Yes. As stablecoins move closer to mainstream use, consumer protection rules around error resolution, fraud recovery, and disclosures may need to expand beyond current banking frameworks.
A regulatory gap could slow institutional participation or create uneven oversight, increasing risk for users and prompting stricter enforcement actions later rather than gradual integration.
Businesses handling high-volume payments, gig workers needing faster payouts, and cross-border users could see lower costs and quicker settlement compared to traditional systems.
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