Stellar recorded $11.4 billion in stablecoin transfer volume during the second quarter of 2026, up 72% from the previous quarter. The result marked the network’s first double-digit-billion quarter for stablecoin movement, while asset velocity remained near 33x, the Stellar Development Foundation reported.
The transfer surge arrived alongside a larger developer footprint. Stellar reached 2,968 monthly active developers as of June 30, an all-time high that the foundation said represented 125% year-over-year growth, citing Electric Capital data. SDF framed the activity as a barbell pattern, with financial institutions and users in access-constrained markets relying on the same infrastructure for different purposes.
Stablecoin Growth Extends Into Regulated Yield
The quarter also brought greater attention to yield-bearing on-chain products. Figure launched YLDS on Stellar in May, describing it as an SEC-registered, interest-bearing digital security. YLDS adds a regulated yield product to Stellar’s stablecoin-oriented ecosystem, although SEC registration does not constitute regulatory approval or an endorsement of the asset. SDF also said Circle’s Cross-Chain Transfer Protocol connected Stellar-based assets with 23 chains during the quarter.
Institutional tokenization remained another core growth driver. SDF reported that real-world assets on Stellar reached $3 billion in June, while earlier network disclosures identified more than $580 million in tokenized U.S. Treasuries issued by Franklin Templeton and over $100 million in commercial real estate activity from RedSwan. The mix is expanding beyond payment tokens into treasuries, real estate, private credit and other regulated instruments.
That pipeline continued after the quarter closed. On July 15, Tradable announced an agreement to bring up to $1 billion in tokenized private credit assets to Stellar, subject to implementation through its platform and participating asset managers. The commitment is a planned deployment rather than completed on-chain volume, making the distinction important when assessing the network’s current institutional scale.
Developers Connect Assets With Regional Demand
Developer growth has become the bridge between asset issuance and practical distribution. SDF said activity was concentrated in Nigeria, India, Turkey and Brazil, where builders are working on products such as remittances, payroll services and savings tools. The Stellar Community Fund distributed $5.5 million to 55 companies across rounds 42 and 43, supporting that expansion through grants and ecosystem programs.
Public-sector usage also remained part of Stellar’s broader adoption story. The Republic of the Marshall Islands began its ENRA universal basic income distributions on November 26, 2025, with quarterly payments planned through conventional and digital channels. Its blockchain pilot uses the Lomalo citizen wallet on Stellar, while the related USDM1 instrument is a separate sovereign bond backed 1:1 by short-dated U.S. Treasuries.
The Q2 figures support a strategy centered on moving regulated assets as well as issuing them. The next operational test is whether developer growth can convert record transfer activity into durable financial services, particularly across cross-border payments, payroll and regions where traditional access remains limited. SDF’s roadmap now places additional emphasis on configurable privacy tools and continued builder integration.