News ยท Stablecoins & Payments
Allium's Q3 2026 report tracks 1.04 billion transactions as issuer dominance shifts away from Tether, Circle, and Ethena toward new distribution models.
Key point 1 of 3
01
Stablecoin payment transactions grew 45% to $482 billion through September 30, 2026, while total supply rose just 0.4% to $305 billion.
Key point 2 of 3
02
Payment count climbed 71% to 1.04 billion as the average payment size fell from $544 to $462, led by Tron and Tether.
Key point 3 of 3
03
Tether, Circle, and Ethena supply declined this year as 15 issuers crossed the $1 billion threshold and card spend grew tenfold to $3.9 billion.
Context
Stablecoin adoption historically aligned closely with overall crypto market capitalization and speculative liquidity.
Why it matters
Market share is decentralizing away from dominant issuers toward revenue-sharing models and branded corporate tokens, while card issuers capture larger consumer payment flows.
What to watch
Issuance trajectory of yield-sharing tokens like Open USD and fourth-quarter card settlement growth figures.
Sources
Built from 1 primary source, machine-checked before publication.
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