Moody's 2026 Major Outlook: How Will Stablecoins Become the Core Infrastructure of "Digital Cash" in the Global Market?

In 2025, the settlement volume of stablecoins increased by approximately 87% compared to 2024, reaching an astonishing $9 trillion. Behind this data is the fundamental shift of stablecoins from being merely tools for cryptocurrency trading to becoming “digital cash” and core financial infrastructure.

Moody’s predicts that by 2026, as the asset tokenization operational framework matures, digital cash tools represented by stablecoins will take on core functions such as liquidity management, collateral transfer, and settlement within an increasingly tokenized financial system.

01 Trend Consensus: From Marginal Tool to Core Infrastructure Leap

Top global institutions have reached a rare consensus on the future of stablecoins. In a forward-looking assessment in 2026, top Silicon Valley venture capital firm a16z described stablecoins as initiating a new “bank ledger upgrade cycle.”

Compared to traditional banking systems, stablecoins possess inherent advantages such as 24/7 settlement, programmability, and low-cost cross-border transactions. Their significance has long surpassed that of simple trading tools.

Moody’s report further reinforces this view, explicitly stating that fiat-backed stablecoins and tokenized deposits are evolving into “digital cash.” The core driver of this transformation is efficiency—stablecoins can achieve near-instant settlement in traditional cross-border payments and settlements, significantly reducing transaction costs and time.

02 Data Evidence: Explosive Growth in Stablecoin Trading Volume

Data is the most convincing proof. Industry estimates show that in 2025, stablecoin settlement volume reached $9 trillion, with an annual growth rate of 87%.

This growth is not only reflected in on-chain transaction volume but also in the overall market size of stablecoins, which grew from $13.0553 billion to $30.8585 billion in 2025, with an annualized growth rate of 136%.

It is noteworthy that this growth occurred amid increased volatility in global financial markets, demonstrating the dual value of stablecoins as a safe haven tool and an efficient settlement method.

Industry institutions like Standard Chartered Bank forecast that between 2030 and 2034, 10%-30% of global assets could be tokenized, reaching a scale of $40-120 trillion. In this grand vision, stablecoins as the foundational settlement layer will be irreplaceable.

03 Regulatory Breakthroughs: Paving the Way for Scalable Applications

Clearer regulation provides critical support for the explosive growth of stablecoins. In 2025, the United States passed the “Genius Act,” filling the regulatory gap at the federal level for stablecoins.

This legislation not only clarifies issuance qualifications, reserve requirements, and operational standards but also promotes the penetration of the US dollar into the global crypto economy and cross-border payments by mandating a 1:1 peg with the US dollar.

Globally, regulators’ acceptance of digital assets is increasing. Nilmini Rubin, Chief Policy Officer of Hedera, pointed out that jurisdictions that treat “regulatory clarity” as a strategic infrastructure will have advantages in attracting investment and supporting sustainable innovation by 2026.

The establishment of this regulatory framework allows traditional financial institutions to adopt stablecoin technology with greater confidence. Wall Street giants like BlackRock, JPMorgan, and Goldman Sachs have already conducted on-chain trading and settlement activities through their platforms, with some processing over $1.5 trillion in transactions.

04 Application Scenarios: From Cryptocurrency to Global Payment Networks

The application scenarios of stablecoins are rapidly expanding beyond cryptocurrency trading. In cross-border payments, Visa has extended support to various stablecoins (such as USDC) and reports show that stablecoin usage is shifting from holding to spending, indicating it will become a mainstream payment tool.

Traditional tech companies are also actively deploying: PayPal has expanded its PYUSD stablecoin to enterprise applications; Stripe acquired Bridge and partnered with Visa to launch stablecoin-linked card products.

Broader global adoption is underway. Ctrip’s overseas version Trip.com has launched stablecoin payment features for global users, currently supporting USDT and USDC, two US dollar stablecoins.

At the institutional level, BlackRock has launched and operates the BUIDL fund, tokenizing US Treasuries on the blockchain to enable 24/7 instant settlement and institutional-grade liquidity.

05 AI Integration: Settlement Infrastructure in the Machine Economy Era

The integration of AI and stablecoins will become a key trend in 2026. With the rise of AI Agents, the traditional “Know Your Customer (KYC)” is evolving into “Know Your Agent.”

a16z views the combination of AI and crypto as a crucial variable for the next phase, considering encryption technology as a new “primitive” that transcends blockchain itself—used not only for transfers and transactions but also for building trust, permissions, incentives, and collaboration mechanisms.

Decentralized AI is expected to become one of the largest use cases in the Web3 space by 2026, driven by the demand for scalable, energy-efficient, and privacy-focused systems. In this ecosystem, stablecoins will serve as ideal tools for micro-payments between machines.

06 Gate Platform: A Reliable Gateway to Seize Stablecoin Opportunities

Founded in 2013, Gate is a leading global cryptocurrency trading platform serving over 47 million users and supporting more than 4,200 crypto assets trading pairs. Facing the historic opportunity of stablecoins becoming the core infrastructure of the market, Gate provides a comprehensive and reliable way for users to participate in this trend.

Gate’s core advantage lies in its extensive stablecoin trading options. The platform supports mainstream stablecoins like USDT and USDC and offers diversified trading pairs, enabling users to easily engage with the stablecoin ecosystem.

The platform achieves 100% reserve proof, working with well-known auditors to regularly verify the safety of user assets. The Gate ecosystem also includes services like Gate Wallet, providing an integrated experience from trading to storage.

For users seeking to profit from stablecoin growth, Gate offers multiple participation methods:

• Spot trading to directly acquire mainstream stablecoins;
• Margin trading using stablecoins as collateral for long and short positions;
• Rich financial products that generate steady returns on held stablecoins.

As of January 8, stablecoins like USDT and USDC on Gate maintain a 1:1 peg with the US dollar. This stability, combined with the platform’s extensive trading pairs and product options, allows users to flexibly build stablecoin-centric investment portfolios and fully participate in the 2026 stablecoin infrastructure wave.

Future Outlook

As Wall Street giants push tokenized bond scales into trillions, Silicon Valley venture capitalists view stablecoins as an “upgrade of bank ledgers,” and traditional rating agencies like Moody’s begin to define stablecoins as “market core infrastructure,” a profound transformation of the financial system is quietly unfolding.

In this new financial landscape shaped by stablecoins, the boundaries between traditional finance and the crypto world are dissolving. It is predicted that by 2030, up to $120 trillion in assets could be tokenized.

Stablecoins are no longer just a “safe haven” in the crypto market but have evolved into a bridge connecting real assets and the digital world, becoming the “digital cash” layer of the global financial system.