USDT Still Leads Stablecoin Volume as USDC Gains Momentum
Stablecoin usage has evolved significantly in recent years, and NOWPayments data shows that USDT remains the dominant stablecoin by business transaction volume. However, USDC is gaining momentum fast, with a 209.02% increase in transaction count year-over-year and a 101.63% rise in transaction volume.
The divergence between scale and momentum highlights the increasingly differentiated stablecoin landscape. USDT offers global liquidity and established transaction scale, while USDC has a clearer regulatory position in Europe under MiCA regulations. Businesses are no longer using stablecoins solely for accepting crypto payments but also for moving money throughout their daily operations.
NOWPayments data reveals that USDT accounted for 66.92% of stablecoin transaction volume in H1 2026, while USDC's share rose to 8.95%. The platform supports multiple blockchain networks, including Ethereum and Polygon, allowing businesses to process transactions efficiently.