Weekly net stablecoin inflows rebounded last week as on-chain activity increased, even as U.S. lawmakers and banking groups clashed over whether stablecoin issuers should be allowed to pay yield, according to a Messari report.
Net weekly stablecoin inflows jumped to $1.7 billion, a 414.5% week-on-week rise, the report published Wednesday found. The 30-day average flipped to a positive $162.5 million in daily inflows. Transaction volumes were up 6.3% while average transaction size fell, signaling renewed issuance demand and strengthened on-chain activity among retail participants.
Stablecoin inflows measure net new stablecoins entering circulation after redemptions. The surge follows a weaker stretch earlier this year: Messari recorded $249 million in weekly inflows two weeks prior and $4.4 billion in net outflows over the 30 days ending Feb. 18.
The renewed demand coincides with a growing debate in Washington over “yield-bearing” stablecoins. Banking groups warn that permitting issuers to pay yield could create a loophole that pulls deposits away from banks, and they have urged lawmakers to restrict the practice as they negotiate broader crypto market structure legislation.
The Senate Banking Committee’s markup of the market-structure bill, initially slated for mid-January, was postponed indefinitely amid disputes over stablecoin yield. President Donald Trump publicly criticized banks on social media for blocking the bill’s progress.
The GENIUS Act, a proposed federal framework for stablecoin issuers, would bar issuers from paying interest or yield solely for holding a payment stablecoin; third-party platforms could still run rewards programs tied to balances. Separately, the Digital Asset Market Structure Clarity Act (CLARITY Act), intended to create a wider regulatory framework for digital assets, passed the House on July 17, 2025, and is under Senate consideration.
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