Stablecoin Supply Hits $259.7B as DoorDash, Meta Test Payouts

Average stablecoin supply reached $259.7 billion over the past 12 months. Stablecoins recorded $76.2 trillion in total on-chain transaction volume during that period and $13.2 trillion after removing non-economic activity.

On-chain activity included 15.9 billion total transactions and 409.3 million total active unique addresses. Adjusted metrics reduced transaction counts to about 2.4 billion and produced the $13.2 trillion adjusted volume figure.

Sending addresses numbered about 330.8 million and receiving addresses about 390.5 million over the same 12-month span. Raw transaction totals include automated and programmatic transfers as well as internal movements that adjustments attempt to filter out.

Corporate pilots have started to use stablecoins for payouts. DoorDash is working with Stripe to test stablecoin payments for roughly 10 million Dashers across more than 40 countries. Meta has been testing stablecoin payouts for creators in markets including the Philippines and Colombia.

Activity has also risen within crypto-native infrastructure. Jupiter’s jupUSD stablecoin reached about 100,000 monthly active users. Monthly asset senders for jupUSD climbed from near zero in January 2026 to nearly 100,000 by May 2026, and monthly users roughly doubled in the two months before May.

On the corporate deal front, Payward, the parent company of Kraken, agreed to acquire Reap Technologies for $600 million. Reap focuses on stablecoin-based cross-border and business payments. The transaction values Payward’s shares at about $20 billion.

Matt Hougan, chief investment officer at Bitwise, estimated that stablecoin supply could rise from roughly $300 billion today to about $4 trillion by 2030 if large platforms adopt crypto-based payment rails.

Even after adjustments, the reported $13.2 trillion in transaction volume reflects substantial economic flows routed through stablecoins for trading, liquidity management, payments and other business use cases.