Moody's 2026 Outlook: Stablecoins Will Become Core Market Infrastructure

Moody's latest cross-industry outlook report indicates that stablecoins are evolving from crypto-native tools into a core part of institutional market infrastructure. The report, released Monday, shows that industry estimates of on-chain transactions (not simply interbank fund flows) project stablecoin settlements to grow by approximately 87% year-on-year in 2025, reaching a scale of around $9 trillion. Moody's believes that fiat-backed stablecoins and tokenized deposits are becoming "digital cash" for liquidity management, collateral transfer, and settlement in an increasingly tokenized financial system.