Stablecoin issuers earned an estimated $5B in 2025

Stablecoin issuers generated an estimated $5 billion in revenue in 2025 by utilizing the Ethereum network as a primary settlement layer. According to data from Token Terminal, the supply of stablecoins on Ethereum increased by $50 billion during the year, surpassing a total of $180 billion in the fourth quarter. As a result, issuers' quarterly revenue also grew, reaching approximately $1.4 billion in the fourth quarter alone.