Stablecoins now process more on-chain transactions than Visa and Mastercard, establishing themselves as the core settlement infrastructure for the internet.

According to Noam Gurwitz, Head of Engineering at Alchemy, this marks a foundational shift in how digital value is transferred globally. He describes stablecoins as “the primary settlement layer for the internet.”

Major payment players such as PayPal and Stripe have already started adopting stablecoin infrastructure to enable faster and more cost-effective transactions. Gurwitz revealed that stablecoin volume on-chain now exceeds that of Visa and Mastercard by approximately 7%, signaling a decisive turning point for the financial ecosystem.

Alchemy plays a critical role in powering this transition, serving as the infrastructure provider behind major platforms including Visa, Stripe, Circle, Robinhood, and PayPal. Robinhood Wallet, for instance, relies on Alchemy to manage its on-chain stablecoin flows.

One of the clearest use cases for stablecoins is in cross-border remittances. Traditional services often charge 4% to 10% in fees, whereas stablecoins can lower that to just 1–3%, significantly increasing the net funds received by families in need — especially in underserved or rural regions.

Emerging economies stand to benefit the most. Unbanked individuals can receive payments directly to mobile wallets, bypassing legacy banks. Platforms like Onafriq, which connects over 500 million wallets and bank accounts across 40 African markets, demonstrate the real-world scale of stablecoin adoption.

Beyond remittances, stablecoins enable programmable payments — such as microtransactions for digital content, automated billing via smart contracts, and real-time settlement for high-frequency trading. These developments are just the beginning.

The U.S. Senate’s recent passage of the GENIUS Act introduces a national regulatory framework for stablecoins, creating a legal environment that encourages innovation and ensures compliance.

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