# Stablecoins Surpass ACH Volume

**Published:** 2026-07-29T07:19:26.330Z  
**Topic:** Crypto Payments  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/01586b74-82bf-4c1e-b7ae-9e75bca3492b

Stablecoins hit $7.2 trillion monthly volume, surpassing US ACH network's $6.8 trillion, with USDC leading USDT in adjusted on-chain volume, and the GENIUS Act

Stablecoin monthly volume hit $7.2 trillion in February, surpassing the US ACH network's $6.8 trillion for the first time in history, according to Artemis Analytics [1]. This milestone marks a significant shift in payment rails, with stablecoins emerging as a major player in the financial landscape. The stakes are high, with Visa, Mastercard, and US banks that built ACH facing a new reality where stablecoins are no longer just a crypto-trader curiosity, but a real payment rail.

| At a glance | |
|---|---|
| Price | $7.2 trillion |
| 24h % move | N/A |
| Key level | Surpassed US ACH network's $6.8 trillion |
| Catalyst | GENIUS Act and institutional flows |

## What drove the move
The GENIUS Act, signed into law in July 2025, established full reserve, audit, and compliance requirements for any dollar stablecoin marketed to American users [1]. This law gave US banks and payment processors the legal cover to move flows to the only major stablecoin built for exactly that regime. As a result, USDC has overtaken USDT in adjusted on-chain volume, with Circle's USDC processing roughly $2.2 trillion in adjusted year-to-date on-chain volume, compared to Tether's USDT at $1.3 trillion [1]. The numbers are real, but the parties producing them have skin in the game, with Circle, Stripe, Chainalysis, and Artemis all selling tools that benefit from the narrative [1].

The direction is harder to dispute, with stablecoin total supply reaching $315 billion, up from roughly $200 billion at the start of 2025 [1]. USDC's institutional flows show average transaction sizes consistent with B2B settlement and payroll. The ACH crossover has now happened twice, with March bringing $7.5 trillion in on-chain stablecoin volume [1]. Transak, a crypto payment rail, offers customizable on-ramps and off-ramps for users, enabling them to buy and sell cryptocurrencies with ease [2]. KuCoin and Bitrefill also provide platforms for users to buy and sell cryptocurrencies, as well as purchase gift cards and top up airtime with Bitcoin or crypto [3, 4].

## The competitive picture
Visa and Mastercard are taking notice of the shift in payment rails, with Visa running its own stablecoin settlement service and Mastercard joining Paxos's Global Dollar Network to enable USDC, PYUSD, USDG, and FIUSD across its network [1]. The competition is heating up, with OKX, a verified crypto exchange, stating that "the payment rails have shifted" [1]. Chainalysis projects that adjusted stablecoin volume could reach $719 trillion by 2035, putting on-chain dollar settlement on a collision course with every legacy network at once [1].

## What to watch
* The $7.5 trillion settlement number and its implications for the payment landscape
* The growth of USDC's institutional flows and its impact on the stablecoin market
* The response of Visa, Mastercard, and US banks to the shift in payment rails and the emergence of stablecoins as a major player

The real significance of this shift in payment rails lies in the fact that stablecoins are no longer just a crypto-trader curiosity, but a real payment rail that is gaining traction and threatening the traditional payment landscape. As the market continues to evolve, it remains to be seen how Visa, Mastercard, and US banks will respond to the emergence of stablecoins and the shift in payment rails.

## Sources
1. Forbes — ['Rails Have Shifted'—Stablecoins Topped ACH At $7.5 Trillion A Month](https://www.forbes.com/sites/digital-assets/2026/04/20/rails-have-shifted-stablecoins-topped-ach-at-75-trillion-a-month/)
2. Transak — [Crypto Payment Rail for Financial Applications | Transak](https://transak.com/)
3. KuCoin — [Buy Cryptocurrency with Credit Card & Debit Card Instantly](https://www.kucoin.com/express)
4. Bitrefill — [Buy Gift Cards & Top Up Airtime with Bitcoin or Crypto - Bitrefill](https://www.bitrefill.com/)

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Cite as: TrendWatcher, "Stablecoins Surpass ACH Volume", https://www.trendwatcher.in/article/01586b74-82bf-4c1e-b7ae-9e75bca3492b