Stablecoins are increasingly being used to move dollar-denominated value beyond traditional banking hours, with USDC transfers on Base offering a potential cost advantage for international payments. Research conducted for Coinbase by The Block Pro Research examines how blockchain-based dollars could change remittances, business payments and financial settlement.
The report, The Always-On Dollar: Money for an Economy that Doesn’t Close, highlights the ability of stablecoins to transfer value around the clock, including when banks and conventional payment systems are unavailable. One of its key findings is that sending a $200 remittance using USDC on Base is approximately 86% cheaper than a traditional transfer.
The research also points to rising stablecoin transaction volumes, expanding blockchain address activity and growing interest from major U.S. banks in stablecoins and tokenized deposits. Together, these trends suggest that digital dollars are becoming an increasingly important part of the conversation about faster global payments.
USDC on Base Could Reduce Remittance Costs
International money transfers can involve fees and delays, particularly when payments pass through multiple financial institutions or cross banking jurisdictions. Stablecoins offer another route by allowing users to transfer digital tokens designed to maintain a stable value relative to a reference currency, such as the U.S. dollar.
The report estimates that a $200 remittance made using USDC on Base costs approximately 86% less than a traditional transfer. That difference could matter for families sending relatively small amounts of money, where fees can consume a meaningful share of the payment.
Base is an Ethereum-based network designed to support on-chain applications and transactions. USDC, issued by Circle, is a dollar-backed stablecoin that can be transferred on supported blockchain networks. Users can learn more about the token through Circle’s official USDC information.
The reported saving is specific to the comparison presented in the research. Actual costs can vary depending on the traditional remittance provider, the payment route, blockchain transaction fees and any exchange or conversion charges.
Most Stablecoin Transfers Occur Outside U.S. Banking Hours
The research estimates that more than $400 million moves through stablecoin transfers every hour. It also found that 73% of screened stablecoin transfer volume occurred outside U.S. banking hours, illustrating the extent to which blockchain-based payments operate beyond conventional financial schedules.
Traditional banking and payment infrastructure can have operating-hour restrictions, processing cutoffs and settlement delays. Blockchain networks, by contrast, can process transactions at any time, although actual confirmation speeds, fees and service availability depend on the network and the platforms involved.
For individuals, around-the-clock transfers can provide another option for sending money when traditional services are closed. Businesses may also benefit from being able to pay suppliers or move funds without waiting for the next banking day. Payment providers and financial institutions could potentially manage cash more efficiently when settlement is less dependent on conventional operating schedules.
These advantages do not mean every stablecoin payment is instant or free. Users still need to account for network congestion, provider policies, conversion costs and the availability of reliable services at both ends of a transfer.
Stablecoin Addresses Reach 293 Million
The report places the number of unique stablecoin addresses at approximately 293 million. It compares that figure with 155 million American Express cardholders and 72 million Discover cardholders, as well as a combined 156.7 million mobile banking users across JPMorgan Chase, Bank of America, Wells Fargo and Citi.
These comparisons offer a sense of the scale of stablecoin activity, but they are not direct measurements of equivalent user populations. A blockchain address is not necessarily controlled by a single individual: one person can operate multiple addresses, and an address may also be managed by a business or service provider.
For that reason, the 293 million figure should be understood as a measure of address activity rather than a count of unique people using stablecoins. Even with that limitation, the number highlights the size of the blockchain infrastructure being used to hold or transfer digital dollar tokens.
Stablecoin Transaction Volume Reached $891 Billion
Stablecoin transaction volume reached $891 billion in Q3 2026, more than quadrupling from the beginning of 2023, according to the research. The figure adjusts for automated activity and bots, aiming to provide a more representative view of stablecoin transfer activity.
The report projects that quarterly volume could reach approximately $1.5 trillion by the end of 2027 if the current growth rate continues. This is a projection rather than a guaranteed outcome, and future volumes will depend on adoption, market conditions and continued use of stablecoins for payments and other on-chain activity.
Increasing transaction volume can reflect a wider range of uses, from transfers between individuals to business payments and blockchain-based financial operations. However, volume alone does not reveal how many people are using stablecoins for everyday payments or how much activity represents real-world commerce.
U.S. Banks Explore Stablecoins and Tokenized Deposits
The research also points to increasing engagement between traditional financial institutions and blockchain-based payment infrastructure. Seven of the ten largest U.S. banks have tested stablecoins or tokenized deposits for settlement, while the other three have announced plans to do so.
Tokenized deposits represent bank deposits in a digital token format, while stablecoins are separate digital assets typically designed to track a reference currency. Both approaches can support experiments with on-chain settlement, but they differ in their structure and relationship to the issuing institution.
The report highlights partnerships with Coinbase as part of this shift. One example is the announced collaboration between Citi and Coinbase to connect digital and fiat payment systems for corporations and consumers. Details are available in Citi’s official announcement.
Stablecoin Payments Could Have Wider Economic Effects
The report estimates that moving 80% of international transactions onto stablecoin-based payment rails could unlock $155 billion in net annual global GDP gains. This figure is a modeled estimate, not a measure of economic gains already realized. Its outcome would depend on adoption levels and the extent to which more efficient settlement reduces payment friction across the global economy.
The research also examines the potential role of artificial intelligence in financial activity. It estimates that AI agents could mediate between $3 trillion and $5 trillion in global consumer commerce by 2030. These software systems could help people and businesses carry out activities such as payments, trading and commerce, although the projected scale remains uncertain.
As digital payments and AI-based tools develop, stablecoins could provide a programmable way to move dollar-denominated value between services. Reaching that potential will depend on secure infrastructure, dependable payment providers, appropriate safeguards and clear rules for businesses and consumers.
The central finding is that demand for dollar payments outside conventional banking hours is growing. USDC on Base is one example of how blockchain networks may offer a lower-cost alternative for certain remittances, while rising transfer volumes and institutional experiments show that the broader stablecoin ecosystem continues to develop.
