Stablecoin Issuers' Revenue Soars on Ethereum: Approximately $50 Billion Accumulated in 2025

Odaily News Token Terminal released data showing that in 2025, stablecoin issuers generated approximately $50 billion in revenue by deploying stablecoins on Ethereum. A portion of this revenue comes from the yields generated by the reserve assets backing the stablecoin supply. Ethereum remains the largest supply carrier for most major stablecoin issuers. Throughout 2025, the stablecoin supply on Ethereum increased by about $500 billion, reaching a total size exceeding $1.8 trillion by the fourth quarter. Issuers' revenue grew accordingly, achieving quarterly revenue of approximately $1.4 billion in Q4.