BitGo says stablecoin payments nearly double as supply stays flat
BTGO•BitGo's analysis found stablecoin payments reached $54.1 billion in September, nearly double a year earlier, while trailing 12-month payments rose about 49% to $434 billion despite broadly flat stablecoin supply.
1. Payments expand
BitGo's analysis found stablecoins are augmenting existing payment networks rather than replacing them, potentially favoring firms that control customer relationships and licenses. September payments reached $54.1 billion, nearly double the year-earlier level, and trailing 12-month payments rose about 49% to $434 billion despite broadly flat stablecoin supply.
2. Tokenization and agents
The analysis said tokenization is expanding into core financial infrastructure as banks build tokenized deposits and securities platforms regardless of cryptocurrency prices. Agentic payments remain limited by trust concerns; x402 volume was $1.15 million in September, predominantly tied to AI inference.
