What began as an innovation in digital dollars has evolved into core financial infrastructure. A new report from Circle details the structural shift of stablecoins from speculative trading tools to production-grade financial infrastructure, driven by a convergence of regulatory clarity, institutional adoption, and maturing onchain technology.

This evolution is underscored by an 87% increase in stablecoin payment volume in 2025, amounting to approximately $900 million. The report highlights the rise of “bankable” stablecoins, with infrastructure providers like Stride and Kea bridging the gap between traditional banking and on-chain assets. This enables banks to process stablecoins with institutional-grade controls.

The findings confirm a broader trend of stablecoin usage moving from speculation to meaningful commerce. The transformation signals a new phase of maturity for the digital asset ecosystem, where stablecoins are becoming embedded at an operational level by banks, card networks, and payment giants, forming the bedrock of a new financial system.

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https://www.circle.com/reports/internet-financial-system