Stablecoin holders are turning to Arbitrum
Arbitrum One has surpassed 11.3 million active stablecoin holders, reinforcing its position as the leading Ethereum Layer 2 for USDC, USDT, and PYUSD as retail and institutional adoption grows.
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@Arbitrum One has crossed a new milestone, surpassing 11.3 million active stablecoin holders. The figure marks a sharp acceleration from the roughly 10 million holders recorded in early May 2026, and underscores the network's growing role as the default execution layer for dollar-denominated on-chain activity.
Dominant stablecoin infrastructure on Ethereum L2
The growth cements Arbitrum's standing at the top of the Ethereum Layer 2 landscape. According to DeFiLlama data, Arbitrum holds the number one stablecoin TVL position among Ethereum L2s in 2026, with roughly $7.4 billion in stablecoins on the chain, ahead of Base at $6.1 billion and OP Mainnet at $1.9 billion. $USDC accounts for the largest share, with $USDT and $PYUSD among the other significant assets in circulation.
$PYUSD's presence on the network has grown considerably. Data from Entropy Advisors showed Arbitrum carrying over $220 million worth of PYUSD, making it the third-largest stablecoin on the network behind USDC and USDT. The expansion of PayPal's stablecoin onto Arbitrum, which took place in July 2025, has added another institutional-grade asset to the chain's liquidity base.
Institutional momentum building alongside retail growth
The stablecoin holder surge is not happening in isolation. The Arbitrum Foundation noted that stablecoin supply on the network climbed 82% through 2025, while the chain also became a venue of choice for institutions including Robinhood, Franklin Templeton, and BlackRock bringing financial products on-chain.
Monthly stablecoin transfers on Arbitrum have exceeded $50 billion, indicating assets are actively circulating across applications rather than sitting idle. Low fees and fast finality remain key draws. That deep liquidity has made Arbitrum the most competitive venue for DEX aggregators competing on routing quality, gas cost, and MEV protection.
With retail users and institutional partners both scaling their presence, Arbitrum's 11.3 million active stablecoin holders signal a network that has moved well beyond early adopter status and into mainstream settlement infrastructure.
Sources:
Arbitrum Foundation: Arbitrum in 2025
Coin Edition: Arbitrum Stablecoin Holders Surge
The Defiant: PayPal PYUSD Supply on Arbitrum
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UC HopeUC holds a bachelor’s degree in Physics and has been a crypto researcher since 2020. UC was a professional writer before entering the cryptocurrency industry, but was drawn to blockchain technology by its high potential. UC has written for the likes of Cryptopolitan, as well as BSCN. He has a wide area of expertise, covering centralized and decentralized finance, as well as altcoins.