Stablecoin User Growth Soars 53% in One Year, Report Reveals

A joint report from blockchain analysis platforms Artemis and Dune has revealed a significant rise in stablecoin usage over the past year, with active stablecoin wallets increasing by 53%. From February 2024 to February 2025, the number of active addresses grew from 19.6 million to over 30 million, reflecting wider adoption and increased user engagement in digital finance.

The report, titled "The State of Stablecoins 2025: Supply, Adoption & Market Trends," attributes the growth to several factors, including stablecoins' role as a bridge between traditional finance and the cryptocurrency world. As a result, the stablecoin market has become a vital component of decentralized finance (DeFi) and other blockchain-based financial services.

In addition to a rise in active users, the report highlighted a 63% increase in the total supply of stablecoins, reaching $225 billion in February 2025, up from $138 billion the previous year. Monthly stablecoin transfer volume also saw significant growth, with a rise from $1.9 trillion in February 2024 to $4.1 trillion in February 2025, marking a 115% increase.

While the average transfer size remained relatively steady, the report noted occasional spikes, particularly during certain months, indicating heightened institutional activity. These metrics suggest that stablecoins have increasingly become a crucial tool for both retail and institutional transactions in the growing digital finance landscape.

Stablecoin Push

The surge in stablecoin use can be attributed to many initiatives, both public and private. 

The Senate Banking Committee has advanced the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act in a notable 18-6 vote, marking a significant bipartisan move in the regulation of stablecoins. Supported by both Democrats and Republicans, the bill aims to establish clear guidelines for stablecoin usage, fostering innovation while ensuring investor protection. This development comes as PayPal expands the integration of its PYUSD stablecoin across more products, catering to the needs of its vast merchant network of over 20 million businesses. 

On the global stage, Russia’s Central Bank is expanding the testing of its digital rubleç, with new smart contract functions being trialed in Tatarstan and the Moscow Metro joining the Central Bank Digital Currency (CBDC) trial. This initiative is part of Russia’s broader effort to modernize its financial infrastructure and explore the potential of a digital ruble. Meanwhile, a senior European official is urging the European Central Bank (ECB) to expedite the launch of the digital euro, aiming to strengthen Europe’s position in the face of growing U.S. crypto dominance. As Europe looks to secure its financial future in the digital era, both the digital ruble and digital euro are set to play pivotal roles in the evolving global financial landscape.