Cross-border stablecoin flows surge 77.5% amid concentrated routing

Chainalysis reports that cross-border stablecoin transaction volumes grew 77.5% year-over-year, while funds remain highly concentrated in a few major channels. The firm identified 4,708 new cross-border transfer paths, but these handled only about $2.64 billion of the $220.3 billion total, indicating persistent dominance by a small number of routes.