Report: Monthly adjusted stablecoin trading volume has surpassed Visa and PayPal

PANews December 18 News, Delphi Digital released the 2026 Infrastructure Sector Annual Outlook report, which pointed out that stablecoins have become the most important infrastructure focus in the crypto space. This year, the total supply of stablecoins grew by 33%, surpassing $304 billion; adjusted monthly transaction volume has now exceeded Visa and PayPal; the amount of US Treasury bonds held by stablecoins reached $133 billion, making them the 19th largest holder of US Treasuries. The report noted that, ironically, now crypto companies are competing around traditional payment channels. Stablecoin recharge cards circulating through the Visa network are an important step, but they have not yet created a new paradigm. Without providing solutions for autonomous control over daily spending and storage, many competitors will eventually be eliminated. Traditional giants have already noticed this trend. After Stripe acquired Bridge, it integrated the US dollar stablecoin USDB; PayPal launched PYUSD; Klarna also recently announced the launch of KlarnaUSD. As fintech companies issue stablecoins one after another, the market battle has already begun. The true winners will be those who can fundamentally innovate the underlying payment infrastructure, rather than just optimize the interface on top of it.