Stablecoins Power 24/7 Transfers: $400M/Hour Volume, 73% Outside Banking Hours as Adoption Grows

A new report commissioned by Coinbase and conducted by The Block Research reveals that stablecoins facilitated over $400 million in adjusted transfer volume per hour during Q3 2026, with quarterly activity reaching $891 billion—more than quadrupling since early 2023. Notably, 73% of screened transfer volume occurred outside U.S. banking hours, underscoring demand for always-on payments across nights, weekends, and holidays. The findings, detailed in 'The Always-On Dollar' report, highlight how stablecoins are decoupling dollar transfers from traditional financial system constraints. Seven of the ten largest U.S. banks have tested stablecoins or tokenized deposits, while 30% of mid-market firms engaged in cross-border business are now using or piloting them, up from 10% in 2024. B2B payment volumes rose 36% year-over-year. Researchers identified 293 million blockchain addresses holding stablecoins, exceeding combined American Express and Discover card issuances, though addresses do not equate to unique users. Hypothetical scenarios suggest shifting 80% of international transactions to stablecoin networks could add $155 billion annually to global GDP and free up $3 trillion in bank liquidity, though these projections carry caveats about potential reductions in bank lending. A separate National Cryptocurrency Association survey found 42% of U.S. adults (about 112 million people) more likely to bank with institutions offering crypto services, with 18% interested in stablecoins through their primary bank. Despite surging activity, stablecoin market capitalization remained flat near $301 billion as of mid-October 2026, per DefiLlama and Stablecoin Beat data. Forecasts from Standard Chartered and Citi project significant long-term growth, with Citi's bullish case reaching $4 trillion by 2030. This surge in off-hours volume and institutional testing signals markets pricing in expectations for faster, borderless finance, potentially influencing broader monetary policy dynamics and investor shifts toward digital rails.