Predictions: Stablecoins to Surpass ACH Transaction Volume by 2026

Galaxy predicts stablecoins will overtake ACH transaction volume in 2026

Summary:
According to a recent forecast from Galaxy Research, stablecoins are expected to surpass the transaction volume of the US Automated Clearing House (ACH) system by 2026. This growth is attributed to increasing regulatory clarity and rising adoption rates.

Key Takeaways:

Stablecoins could process more transactions than ACH by 2026, driven by regulatory clarity and adoption.
Galaxy Research indicates that stablecoin transactions already outpace credit card networks like Visa.
The stablecoin market cap is currently around $309 billion, with significant developments in dollar-pegged stablecoins.
Companies like Western Union and Sony Bank are planning to introduce their own stablecoins, further expanding the market.

Stablecoins Expected to Outpace ACH Transactions

Galaxy Research, a division of the digital asset company Galaxy Digital, has forecasted that stablecoins may exceed the transaction volume of the US Automated Clearing House (ACH) by 2026. This prediction is based on current transaction data and the evolving regulatory landscape. Currently, stablecoin transactions surpass major credit card networks like Visa, accounting for about half of ACH's transaction volume.

Thad Pinakiewicz, Vice President of Research at Galaxy, highlighted that the supply of stablecoins has been increasing at a compound annual growth rate of 30% to 40%, and transaction volumes are closely following this upward trend. Additionally, the anticipated implementation of definitions under the GENIUS Act in early 2026 is expected to further enhance stablecoin utilization.

Stablecoin volume vs. other financial systems. Source: Galaxy Digital

Expanding the Dollar-Pegged Stablecoin Market

As reported by DefiLlama, the current market capitalization of stablecoins is approximately $309 billion. Tether’s USDt continues to play a leading role in this space.

In an influential move last October, Western Union announced plans to launch its own dollar-pegged stablecoin, known as the US Dollar Payment Token. This token will be constructed on the Solana blockchain and issued through Anchorage Digital Bank, contributing to a broader digital asset settlement network.

In addition, Sony Bank is in the process of developing a US dollar-pegged stablecoin aimed at enhancing its ecosystem, which includes PlayStation games, subscriptions, and anime content. This stablecoin is expected to launch in 2026.

Recently, SoFi Technologies introduced SoFiUSD, a fully reserved US dollar stablecoin, through its banking arm, SoFi Bank. Designed to facilitate low-cost settlements for banks, fintech companies, and enterprise platforms, the token is set to debut on the Ethereum blockchain.

Galaxy Research's associate Jianing Wu has expressed her expectation that stablecoins partnered with traditional finance (TradFi) will consolidate by 2026. Users and merchants are likely to favor a limited number of digital dollars that offer the broadest acceptance.

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