Visa, Mastercard and Stripe push stablecoins into payments as Allium reports 45% growth

Stablecoin payments climb while supply stalls

Stablecoin payments reached $482 billion in the first nine months of 2026, up 45% from a year earlier, according to blockchain analytics firm Allium. The number of payments rose even faster, jumping 71% to over 1 billion.

The growth contrasts with the broader stablecoin market. Allium said circulating supply stood at about $305 billion at the end of September, up only 0.4% since the start of the year. The report said stablecoins are changing hands more often without much new supply entering the market.

Stablecoin linked cards show sharp growth

Stablecoin linked cards showed some of the fastest growth. Spending measured by Allium reached $3.9 billion through September, ten times the amount a year earlier. Purchases under $50 accounted for 84% of the increase in card transactions.

The figures remain small compared with card networks. Allium estimated that second quarter spending through stablecoin linked cards amounted to just 0.03% of Visa's $4 trillion in payment volume.

Mastercard, Stripe and Visa add stablecoin rails

Mastercard introduced Global Money Platform with BVNK, the stablecoin infrastructure firm it acquired in August. The service combines traditional currency accounts, stablecoin balances, conversions, card spending and bank payouts through one connection. Nuvei and Marqeta were among the first customers integrating the service.

Stripe is working with Plasma, a blockchain based financial services firm, on cards that support balances in dollars, euros, Brazilian reais, Mexican pesos and Colombian pesos alongside eligible stablecoins. The companies said customers would spend from the balance matching their purchase. Stripe's expanded card infrastructure covers more than 30 countries, with plans to reach over 100 by next year.

Visa said Inyo Global became the first provider to put Visa Direct's stablecoin prefunding service into commercial use. Payment firms can use Circle's USDC to fund cross border payouts in nearly real time, while recipients can still receive money through conventional channels.

Businesses want integration rather than separate systems

Allium also set boundaries around the growth numbers. Of $97.9 trillion in raw stablecoin transfers through September, it classified $2.4 trillion, or 2.5%, as end user activity after filtering out exchange, decentralized finance and automated transactions.

Nuvei CEO Phil Fayer said stablecoins are becoming part of how businesses move money across borders and currencies. Patrick Mollard, co-founder and CEO of Paris based Fipto, said businesses do not want separate crypto infrastructure and want to move between fiat and stablecoins within the same payments and treasury environment.

Sources: CoinDesk