Stablecoin Cross-Border Flows Surge to Record High Amid Crypto Bear Market

The global stablecoin market has experienced a surge in cross-border transactions, increasing by nearly 78% to $220.3 billion over the past year despite the broader crypto market's decline.

This growth occurred even as the total crypto market cap fell 50%, or $2.1 trillion, marking one of its worst bear markets since 2022.

The increase in stablecoin transfers came mainly from smaller payments averaging around $3,000, used for supplier payments, sending money home, or moving savings out of volatile local currencies.

New trade corridors opened rapidly, with 4,708 fresh routes carrying $2.64 billion, while the bottom three quartiles of corridors expanded from $0.26 billion to $8.66 billion in value.