Stablecoin daily transfers averaged $195.6 billion in July 2026, with total supply reaching $315.6 billion, according to data from Artemis. The numbers underscore how deeply stablecoins have penetrated the payments ecosystem — and why Visa, Mastercard, and a growing roster of BaaS providers are racing to build settlement rails around them.
Visa and Mastercard double down
Visa's stablecoin settlement run rate hit about $7 billion annualized by March 2026, up from $3.5 billion in November 2025. The card network expanded a pilot that lets eligible issuers and acquirers settle obligations using stablecoins on supported blockchains. Mastercard, not to be left behind, agreed to acquire BVNK for up to $1.8 billion in early 2026 and added support for several stablecoins across multiple networks in June. Stripe also got in on the action, buying Bridge to add technology for issuing, transferring, and converting digital dollars.
Wirex's B2B stablecoin engine
Wirex's Banking-as-a-Service operation reached $1 billion in annualized settlement volume within 131 days of launching in November 2025. The company now has more than 300 active partner discussions, with BingX, EVEDEX, and Crossmint already integrated. Its Earn product offers variable returns of up to 9.75% through DeFi markets including Morpho and Aave. CEO Pavel Matveev said stablecoin providers don't own all parts of the system — similar to how Visa and Mastercard don't become card issuers in traditional finance. He added that responsibility for a stablecoin depegging lies with the issuer, not the payment provider.
Wirex is building Wirex One, an upcoming onchain app that plans to combine card spending and foreign exchange with tokenized equities, asset-backed credit, and perpetual futures offering leverage up to five times. The company recently joined Visa's AI payments initiative, though details of that partnership remain under wraps. With stablecoin settlement volumes still climbing and payment giants buying their way into the infrastructure layer, the next few months will show whether the BaaS model can scale as fast as the networks it plugs into.
