Mapping the Stablecoin Value Chain

Stablecoins have crossed a threshold. What began as crypto-native assets have become a foundational layer of global financial infrastructure — moving money across borders, around the clock, at scale.

Mapping the Stablecoin Value Chain 2026 examines that shift and what it means for the organizations building on top of it. The report maps the complete stablecoin value chain, from issuance and treasury management to payments, payroll, and yield.

It gives businesses, financial institutions, and industry participants a framework for understanding where and how stablecoins create value in real-world operations — and where value is concentrating as the market matures.

Key findings

1. 01Why stablecoins are expanding beyond payments
2. 02How treasury is becoming a competitive advantage
3. 03What happens when money moves 24/7
4. 04The emergence of payroll-native stablecoin networks
5. 05Why yield is becoming embedded into digital dollars
6. 06How regulation is reshaping market structure
7. 07The race to own the stablecoin value chain

The report also explores the role of infrastructure providers, compliance frameworks, and regulatory developments shaping the next phase of stablecoin adoption.