Stablecoin adoption among retail users has been making headlines this year, breaking records with transaction volumes that have already surpassed last year’s totals by August. According to a recent report released by CEX.io, retail-sized transfers—defined as those under $250—soared to a staggering $5.84 billion in August alone. This marks the highest monthly volume ever recorded, as per data from Visa and Allium. And with nearly four months still left in 2025, this year is on track to become the most active period for stablecoin transfers at the consumer level.
The Rise of Stablecoins in Everyday Transactions
The report highlights how stablecoins, a subset of cryptocurrencies pegged to traditional fiat currencies like the U.S. dollar, are increasingly becoming a staple in everyday financial activities. From cross-border remittances to microtransactions, stablecoins are proving to be invaluable. Survey data from emerging markets, which polled over 2,600 consumers in countries such as Nigeria, India, Bangladesh, Pakistan, and Indonesia, sheds light on this phenomenon. A significant number of respondents stated that they turned to stablecoins to dodge high banking fees and sluggish transfer times.
Over 70% of survey participants reported using stablecoins more frequently than they did last year. Moreover, more than three-quarters anticipate that their use of stablecoins will keep rising. These findings suggest a growing acceptance and reliance on stablecoins in regions where traditional banking systems may not always meet consumer needs.
Shifting Blockchain Preferences
While stablecoin adoption is on the rise, the distribution of activity among various blockchains has seen some intriguing shifts. Traditionally, the Tron (TRX) blockchain has been a popular choice for retail transfers due to its low fees and extensive support for Tether’s USDT. However, the report notes that Tron is now losing market share. Monthly transaction counts on Tron have dipped by 1.3 million, a 6% decrease, and its growth in transaction volume falls short compared to its rivals.
In a surprising turn, Binance Smart Chain (BSC) has emerged as the preferred blockchain for retail users, capturing nearly 40% of retail stablecoin activity. The network’s transaction count has surged by 75% this year, with transfer volumes climbing 67%. This momentum appears to be fueled by Binance’s decision to delist USDT for European users back in March and the resurgence of memecoin trading on PancakeSwap, a decentralized exchange on BSC.
Meanwhile, the Ethereum complex—which includes both the base chain and layer-2 networks—accounts for over 20% of transfer volume and 31% of transaction counts. While layer-2 solutions have captured the bulk of small transactions, the Ethereum mainnet has also witnessed a significant uptick in retail activity. Sub-$250 transfers on the Ethereum mainnet have risen 81% in volume and 184% in count.
Ethereum’s Changing Role
Ethereum has long been associated with high-value transactions, largely due to its notorious high fees. However, the landscape is changing. Over the past year, transaction costs on Ethereum have dropped more than 70%, making mainnet transactions more viable and competitive, even in the sub-$250 range. This cost reduction is likely contributing to Ethereum’s growing role in retail transactions, offering users a reliable and secure blockchain option without breaking the bank.
Balanced Perspectives on Stablecoin Growth
While the rapid growth of stablecoin adoption is noteworthy, it’s essential to consider both the opportunities and challenges that come with it. On one hand, stablecoins offer a practical solution for users seeking to avoid excessive banking fees and long transaction times. They also provide financial inclusion for individuals in regions where traditional banking services are limited or unreliable.
On the other hand, the increasing reliance on stablecoins poses questions about regulatory oversight and stability. As stablecoins become more embedded in everyday financial activities, regulators worldwide are likely to scrutinize their impact on monetary policy and financial stability. Ensuring transparency, security, and consumer protection will be crucial as stablecoins continue to gain traction.
Looking Ahead
As we move deeper into 2025, the stablecoin landscape is poised for further evolution. With retail users driving unprecedented transaction volumes, blockchain preferences shifting, and Ethereum’s role changing, the future of stablecoins looks promising yet complex. As stablecoins become an integral part of the financial ecosystem, stakeholders will need to navigate regulatory challenges while fostering innovation and inclusivity.
In conclusion, the record-breaking growth of stablecoin retail transfers in 2025 underscores the transformative potential of digital currencies in reshaping financial systems worldwide. As stablecoins continue to gain ground among retail users, their impact on the global financial landscape will be a trend to watch closely in the coming months and years.
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
