Chainalysis predicts a shift in payments, driven by a US$100 trillion wealth transfer to crypto-native younger generations.
Chainalysis has released a preview of its forthcoming report, Reshaping the Foundations of Finance, which projects that adjusted stablecoin volume could reach US$719 trillion by 2035 through organic growth alone.
The research suggests that, if macroeconomic catalysts are factored in, this figure could approach US$1.5 quadrillion, potentially surpassing the current global cross-border payments market. The Reshaping the Foundations of Finance report identifies two primary drivers for this projected growth: a significant generational wealth transfer and the increasing saturation of stablecoins at the point of sale (POS).
Between 2028 and 2048, an estimated US$100 trillion in wealth is expected to transfer from Baby Boomers to Millennials and Gen Z. Chainalysis notes that these younger generations are statistically more likely to use digital assets as a primary financial tool, with nearly half of these cohorts having held or currently holding cryptocurrency as of 2025.
In 2025, stablecoins processed US$28 trillion in what the report terms “real economic volume”. To distinguish between genuine economic activity and technical noise, Chainalysis uses an “adjusted stablecoin volume” metric. This filters out non-organic activity such as liquidity provisioning, bot activity, and maximum extractable value (MEV) transfers.
The integration of stablecoins into merchant services is highlighted as the final stage of on-chain payment utility. The report suggests that, as stablecoin acceptance becomes standard retail infrastructure, the distinction between “using crypto” and “buying something” will dissolve.
Chainalysis estimates that POS saturation could add US$232 trillion in annual volumes by 2035. If current transaction trends persist, on-chain stablecoin transaction counts may match the off-chain volumes of legacy providers such as Visa and Mastercard between 2031 and 2039.
Strategic moves within the industry, including Stripe’s acquisition of Bridge and Mastercard’s partnership with BVNK, are cited as evidence that stablecoins are becoming core payments infrastructure. The report indicates that legacy rails — which rely on intermediaries and multi-day settlement windows — face increasing competition from stablecoin systems that settle in seconds and operate 24/7.
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