Polygon indicates that since January 2025, a total of $1.67 trillion has circulated on this network, which accounts for approximately 55% of its historical stablecoin trading volume.
The network processed $933 billion in 2025, which is higher than the $276 billion in 2024; since 2026, it has processed another $741 billion.
This means that in the past 21 months, the value of stablecoins flowing through Polygon has exceeded the total value over the previous four years of that network.
The payment bets of Polygon are beginning to be reflected in trading volume.
This acceleration is in line with the strategy of Polygon to shift towards payment infrastructure, and no longer relies primarily on its earlier narratives of DeFi and NFT.
According to Polygon, several large payment companies, including Revolut, Mastercard, Cash App, Deel, and Tazapay, have adopted this network. Revolut alone transferred $810 million through Polygon in 2025, while PayPal USD began to issue its tokens natively on this chain this summer.
This builds upon the progress of Open Money Stack that we tracked earlier this year. At that time, Polygon began to position itself as a provider of end-to-end stablecoin infrastructure, rather than just a blockchain settlement layer.
Infrastructure is expanding with the increase in transaction volume.
Polygon is also increasing its capacity around the theme of payment.
Polygon indicates that an upgrade in June will increase the network capacity to up to 5,000 payments per second; Ithaca further enhances security measures to ensure that transactions can continue to be processed even when block producers are unavailable. Polygon also mentions that newer proxy payment tests have achieved over 11 million verified payments per second during batch transaction settlements.
The expansion of payment infrastructure is not reflected only in raw throughput. Polygon has already launched private stablecoin payments, utilizing zero-knowledge technology to conceal the sender, recipient, and amount; this feature is particularly aimed at institutional users.
These data indicate that the growth of Polygon is increasingly associated with a broader shift towards stablecoin payments, rather than merely speculative on-chain activities.
Author: Ethan Mercer
Ethan Mercer is a financial journalist who covers cryptocurrency, stocks, and the global economy. He studied economics and finance before turning to market reporting, with a particular focus on Bitcoin, stocks, monetary policy, and investor sentiment. His work focuses on explaining daily market fluctuations and the broader trends behind them.
