The Definitive Stablecoin Landscape Series: North America
$5.32tn
Of volume settled in North America, representing 16.1% of global stablecoin activity.
$1bn
RLUSD reached the landmark figure in less than a year.
With 99% of the total market cap denominated in USD, North America remains the primary engine driving stablecoin adoption with the many of the largest issuers - Circle, Paxos, Ripple and PayPal - all headquartered in the United States.
In 2025, the region settled 16.1% of global stablecoin activity. Crucially, this means over 80% of transactions occurred outside North America - underscoring the 'export economy' of the digital dollar and its status as the world’s preferred reserve asset.
