Allium identified $2.4 trillion in end-user activity out of $97.9 trillion in total raw stablecoin transfers through September 2026 after filtering out exchange and automated transactions

Tokens pegged to stable value, usually the US dollar, spanning issuers and reserves, depegs, and adoption by banks and payment networks.

Using crypto and stablecoins to pay for things, from payment cards and merchant checkout to payroll, remittances and cross-border settlement.

Supply, adoption, and competitive dynamics of fiat-pegged tokens, tracking issuers like Tether and Circle and the payment and trading flows they power.