Polygon Moves $79.3B in Stablecoins in May, Tops Chains

Polygon reported it processed about $79.25 billion in stablecoin transfers across roughly 198 million transactions in May, ranking first among blockchains by transaction count. The amount was the network’s second-highest month on record.

The totals lift Polygon’s cumulative stablecoin transfer volume above $2.4 trillion. The company presented the figures as part of an effort to position the network as a settlement layer for dollar-pegged tokens.

Polygon advertises average transaction fees near $0.002 and settlement times of roughly two seconds. The network also reports more than 7 billion total transactions processed since launch and an uptime of 99.99%.

Polygon Labs has developed a dedicated stablecoin payment framework, acquired payment-focused firms and raised capital intended to build payment rails that support higher onchain throughput.

Regional flows featured in May activity. Polygon handled about $309 million in Latin American stablecoin transfers in May, and the network recorded roughly 28 million USDC transactions in a single week, exceeding Solana’s weekly USDC activity.

Polygon’s disclosures show non-peer-to-peer stablecoin volume rose about 66% over a recent stretch while the POL token’s price remained flat during the same period.

Other chains continue to host large dollar-pegged balances. Tron and Ethereum hold the largest stablecoin reserves onchain, and a number of purpose-built payment chains are pursuing similar settlement flows.

Polygon’s report provides transaction and volume totals but does not include causal analysis or market forecasts.