A projection says stablecoin transaction volumes could surpass traditional payment networks within the next 10 years. The spread of on-chain payment infrastructure and a generational shift are converging, an analysis says, pushing blockchain-based payments into a full-fledged phase of competition.

Chainalysis, cited by blockchain media outlet Cryptopolitan on April 9 local time, estimates annual stablecoin transaction volume could expand to as much as $1,500 trillion by 2035. That scenario assumes the spread of on-chain payment infrastructure, the rise of a generation accustomed to digital currency and companies shifting payment systems all proceed at the same time. The report says that even if only the current trend continues, annual adjusted transaction value could reach about $719 trillion, and that the figure could more than double if economic and technological shifts accelerate.

Growth is already steep. The report says global stablecoin transaction volume in 2025 exceeded $33 trillion, surpassing the combined processing volume of Visa and Mastercard. If the trend continues, it also raises the possibility that the number of on-chain transactions could overtake existing card networks before 2035.

It points to intergenerational wealth transfer as a backdrop. The report says up to $100 trillion in assets could shift to millennials and Generation Z, and that a significant share of them already hold cryptocurrencies. That implies a generation familiar with digital assets could change payment methods themselves.

Chainalysis says the key change is not only about investment preferences. It says younger users accept instant payment, mobile-first tools and cross-border accessibility as basic conditions for payments, and that these expectations could redefine global money flows. That means consumers and businesses may increasingly choose blockchain-based payment networks over banks and card networks.

The potential expansion into in-person payments is also cited as a growth driver. The report says linking to point-of-sale systems alone could create as much as $232 trillion in economic effects by 2035. It describes merchants accepting stablecoins directly as evidence they are moving beyond an investment asset to become an actual means of payment.

Existing payment companies are also moving to respond. Stripe recently acquired Bridge for $1.1 billion, and Mastercard said it will acquire BVNK for up to $1.8 billion. The report says these moves show traditional payment institutions view stablecoins not as a temporary fad but as part of the future payment structure. It also notes that payment companies are already designing systems to apply stablecoins to large-scale payments without waiting until 2035.

The regulatory environment is also presented as a variable for wider adoption. The report cites a case in which President Donald Trump signed the "Genius Act" last summer and says authorities have begun to treat stablecoins more seriously. It says that as rules become clearer, companies have greater incentives to reduce uncertainty and introduce related products and services.

Cost and speed differences are cited as direct reasons for market expansion. Traditional payment networks go through multiple intermediaries and batch processing, but stablecoins can be settled almost instantly. They operate 24 hours and cross-border movement is relatively fast. That can reduce payment fees and settlement times, and simplify corporate accounting and cash management. The report says these advantages are already driving adoption in remittances, business-to-business payments and treasury management.

Ultimately, the pace of stablecoin expansion depends on three elements: corporate adoption, regulatory preparation and integration with offline payment networks. If these conditions are met, stablecoins are increasingly likely to establish themselves as a new global payment infrastructure that replaces existing card networks.