STATE OF STABLECOINS AND PAYMENTS: SEPTEMBER 2026

Summary from the TLDR Crypto newsletter

Allium's September 2026 stablecoin report, timed to the CLARITY Act Senate vote, puts total supply at $303 billion while payment volumes reached $401-$527 billion through August, up 42-63% year-over-year against supply's 6% gain. B2B settlement leads all payment lanes at $137-$153 billion, with payroll ($43B) and supplier payments ($28B) indicating real-economy use beyond trading, which accounts for 69% of adjusted transfer volume. Reserve backing now drives an estimated $170 billion in new US Treasury demand, a figure poised to surface in Senate floor debate. Cross-border stablecoin transfers grew 64% versus 9% for fiat rails, with Thailand ($10.8B), Turkey ($7.8B), and Indonesia ($6.3B) as the top recipient markets.