From $28 Trillion to $1.5 Quadrillion: The Stablecoin Forecast Wall Street Can’t Ignore

TLDR

• Blockchain analytics firm Chainalysis projects stablecoin transaction volume could reach $719 trillion by 2035 through organic growth alone
• With macro tailwinds, that figure could climb to $1.5 quadrillion — up from $28 trillion last year
• U.S. Treasury Secretary Scott Bessent is calling on Congress to pass the Clarity Act, a crypto market structure bill
• A generational wealth transfer of up to $100 trillion to crypto-native Millennials and Gen Z could add $508 trillion in annual stablecoin volume
• Growing merchant adoption at point-of-sale could add another $232 trillion in annual stablecoin volumes

Stablecoin transaction volumes could explode from $28 trillion last year to as much as $1.5 quadrillion by 2035, according to a new report from blockchain analytics firm Chainalysis. That projection is now drawing attention from the highest levels of the U.S. government.

U.S. Treasury Secretary Scott Bessent wrote an op-ed in the Wall Street Journal calling on Congress to act. He urged lawmakers to pass the Clarity Act, a crypto market structure bill currently being considered by the Senate banking committee.

The Senate banking committee is reportedly planning a hearing to vote on the Clarity Act before the end of April. Bessent called Senate floor time “scarce” and said “now is the time to act.”

The Chainalysis report, titled “The New Rails: How Digital Assets Are Reshaping the Foundations of Finance,” was previewed on April 8. It frames stablecoins as scalable settlement layers for global payments, remittances, and corporate treasury use.

Chainalysis projects stablecoin volume will hit $719 trillion by 2035 through organic growth. If macro catalysts fall into place, that number could approach $1.5 quadrillion.

The baseline figure already represents a massive jump from current levels. Last year’s $28 trillion in stablecoin volume is a fraction of what analysts now say is possible.

Generational Wealth Transfer

One of the biggest drivers in the report is a generational shift in wealth. Up to $100 trillion is expected to move from older generations to Millennials and Gen Z — groups the report describes as “crypto-native.”

Chainalysis estimates this transition alone could add $508 trillion to annual stablecoin transaction volumes by 2035. Younger investors are seen as more likely to use blockchain-based financial tools over traditional banking systems.

As that capital moves, liquidity could increasingly shift toward on-chain ecosystems rather than legacy financial institutions.

Merchant Adoption at Point of Sale

Merchant integration is the other major growth driver. Chainalysis estimates that point-of-sale adoption could add $232 trillion in annual stablecoin volumes by 2035.

As stablecoins become part of everyday transactions, traditional payment providers could face growing competition. At scale, on-chain payments could reduce margins for intermediaries.

Bitcoin and broader crypto markets are also expected to benefit from wider stablecoin adoption, according to Chainalysis.

The Clarity Act has already seen some groundwork laid through the earlier Genius Act, which Bessent cited as proof that regulatory progress is possible.

The Senate vote on the Clarity Act is expected before the end of April 2026.

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