In 2026, the U.S. crypto market included tens of millions of holders, merchants accepting digital assets, and corporate payment activity. For companies assessing cryptocurrency payment solutions for business, spending surveys and merchant adoption data helped establish the practical scale of demand. Stablecoins and new federal rules shaped how those companies approached settlement, custody, and reporting.
A broader holder base, with distinct patterns of use
The National Cryptocurrency Association (NCA), launched with Ripple funding, estimated that 67 million U.S. adults owned cryptocurrency in 2026. Security.org estimated 70.4 million. Both figures came from surveys, not verified counts. In a separate measure, the Federal Reserve found that 10% of adults used crypto during 2025, including for investment. Because the studies measured different activities, their results can’t be compared directly.
The NCA found differences between people who first bought crypto in 2025 or 2026 and earlier buyers. Women accounted for 42% of the newer group, against 34% of earlier buyers. Among newer holders, 18% were 18 to 24, and 28% were 55 or older. These figures described the composition of buyer groups, not national ownership rates.
California had an estimated 9.5 million crypto holders, followed by Texas with 5.94 million and Florida with 4.71 million, according to the NCA. Washington’s estimated adult ownership rate was 33%.
Among holders surveyed by the NCA, 40% said they used crypto to shop or pay, while 41% used it to send money to friends or family. Those responses reflected reported activity among holders, not the share of all U.S. consumers making crypto payments.
Stablecoins move into payment operations
Stablecoins generally track a reference asset, commonly the U.S. dollar, while circulating on blockchain networks. Their relatively stable unit of account allows businesses to price invoices, transfer funds, and settle obligations with less exposure to the price swings of unpegged cryptocurrencies.
DefiLlama estimated global stablecoin capitalization at $307.8 billion in October 2026. USDT represented $184.2 billion and USDC $74.3 billion, together accounting for about 84% of tracked supply. That concentration makes reserve transparency, issuer due diligence, and redemption procedures relevant to corporate risk assessments.
Visa reported 316 million active stablecoin wallets worldwide and projected that adjusted stablecoin transfer volume would exceed $10 trillion in 2025. That measure included activity unrelated to payments. McKinsey, using Artemis data, estimated $390 billion in stablecoin payments during 2025, including $226 billion in business-to-business transfers, $77 billion between consumers, $76 billion from consumers to businesses, and $11 billion from businesses to consumers.
Stablecoins can support several payment workflows:
- Suppliers can receive dollar-linked payments across borders without routing every transfer through multiple correspondent banks
- Marketplaces can distribute proceeds to sellers or contractors using compatible wallets and networks
- Treasury teams can transfer funds between approved counterparties while preserving transaction records for reconciliation
Settlement speed and cost still depend on network fees, liquidity, conversion services, and banking access.
Merchants focus on implementation
A January 2026 survey by PayPal and NCA of 619 U.S. payment decision-makers found that 39% of respondents’ businesses accepted cryptocurrency at checkout. The rate reached 50% among large enterprises, compared with 34% of small businesses and 32% of midsize companies. At businesses accepting crypto, digital assets accounted for an average of 26% of sales, and 72% reported growth in crypto sales over the previous year.
Among surveyed businesses, 88% received questions about crypto payments, while 69% said customers wanted to use them at least monthly. Hospitality and travel businesses reported the highest customer interest at 81%, followed by digital goods, gaming, luxury, and specialty merchants at 76%. Among merchants that didn’t accept crypto, 79% believed offering it could help attract new customers.
Implementation remained a hurdle. In the PayPal and NCA survey, 90% of merchants said they’d be likely to try crypto if setup were as straightforward as accepting cards. Providers and merchants need reliable checkout integration, currency conversion, and refund procedures. Once a blockchain transfer settles, access to usable funds still depends on liquidity and banking partners. Finance teams also need transaction records for reconciliation and accurate ledger entries.
Regulation and operational controls
The GENIUS Act, signed on July 18, 2025, established a federal framework for payment stablecoins, including requirements related to reserves and disclosure. The law didn’t complete the rulemaking process or establish that every existing issuer met its requirements.
In February 2026, the Office of the Comptroller of the Currency proposed rules covering reserves, redemption, custody, and oversight. On March 17, the SEC, joined by the CFTC, clarified how federal securities laws applied to certain crypto assets and transactions. FinCEN and OFAC published a joint anti-money-laundering and sanctions proposal in April.
In September, the Federal Reserve sought feedback on requirements for Board-supervised issuers and related activities. The requirements for stablecoin issuers, custodians, payment providers, and merchants depend on their respective activities, a distinction addressed here in a broader review of the U.S. crypto market.
The FBI recorded 181,565 cryptocurrency-related complaints and more than $11 billion in reported losses in 2025. Payment operators also needed to assess wallet access, private-key management, fraud controls, issuer exposure, and recovery procedures. Software agents authorized to make purchases could introduce additional control requirements, including spending limits, approval rules, and records that identify who authorized each transaction.