Stablecoin Payments Reach $482 Billion As Token Supply Barely Grows

Stablecoin payments reached $482 billion through September 2026, up 45% year-over-year, while supply grew only 0.4% to $305 billion. Allium counted 1.04 billion payment transactions, a 71% rise, with smaller average payments. The data filters out exchange arbitrage and internal transfers, showing real payment activity climbing sharply even as token supply stagnates.