Stablecoin transfer volumes reached $891 billion in the third quarter of 2026, more than quadruple early 2023 levels, a Coinbase and The Block Research report showed. Adjusted transfers exceeded $400 million per hour, with most activity outside U.S. banking hours. Banks and companies expanded testing and usage, while addresses holding stablecoins were estimated at 293 million. Despite rising use, stablecoin market capitalisation stood at $301.42 billion, slightly below a year earlier.

User protection and the right to hold assets in personal wallets have emerged as key issues in detailed U.S. stablecoin implementation rules, the National Cryptocurrency Association said in comments to the Treasury on rules tied to Section 3 of the GENIUS bill. Signed by NCA President and Ripple chief legal officer Stuart Alderoty (스튜어트 알데로티), the submission backs 100% reserve requirements while seeking safeguards against automatic freezes, a safe-harbor window, clearer grounds for reissuing stablecoins under court orders, and limits on regulating non-custodial wallets and software providers.