Stablecoin payment volumes are climbing. After Q1, volumes rose 11% quarter-over-quarter, with an average of $747 billion across April, May, and June. June reached $803 billion in volume, the highest monthly total ever recorded by Visa Onchain Analytics. This was the third consecutive month of growth and signals accelerating demand for stablecoins as an instant settlement layer. Since January, total volume has grown nearly 16%, with over $100 billion in additional payment flow. The annualized run rate is now approaching $9 trillion and reflects the increasing role of real-time, always-on, and programmable rails in global money movement.