Cross-border stablecoin transfers are surging nearly 78 percent over the past year even as the broader crypto market experiences a sharp decline.

Transfers of the dollar-pegged tokens across borders climbed from $124.2 billion to $220.3 billion in the 12 months through June 2026.

Monthly volumes more than doubled from $11 billion in January 2025 to $24 billion by June 2026.

The surge occurred even as the total crypto market cap fell 50 percent, a $2.1 trillion contraction that marked the worst bear market since 2022.

The growth came mainly from smaller payments averaging about $3,000, used for supplier payments, sending money home, or moving savings out of volatile local currencies.

New trade corridors opened rapidly, with 4,708 fresh routes carrying $2.64 billion.

The bottom three quartiles of corridors expanded from $0.26 billion to $8.66 billion in value.

Stablecoin balances held steady between $98 billion and $109 billion during the market drawdown, while other crypto assets fell 55.6 percent.