Weekly net stablecoin inflows rebounded last week as onchain activity picked up even while US lawmakers and banking groups sparred over whether third parties should be allowed to pay stablecoin yield, according to a new report from Messari.
Weekly net stablecoin inflows accelerated to $1.7 billion, a 414.5% increase week-on-week, according to the report published on Wednesday.
The recovery also flipped the 30-day average to a positive $162.5 million in daily inflows. Transaction volumes also rose 6.3%, while average transaction size continued to decline, reflecting renewed stablecoin issuance demand and “strengthened” onchain activity amid retail investors, the report said.
Stablecoin inflows track net new stablecoins entering circulation after accounting for redemptions.
The surge follows a weaker period earlier in the year. Messari data showed $249 million in weekly inflows two weeks earlier and $4.4 billion in net outflows over the 30 days leading up to Feb. 18.
Stablecoin yield debate stalls US market structure bill
The renewed demand comes as debate in Washington has sharpened over “yield-bearing” stablecoins. Banking groups have argued that allowing stablecoin issuers’ affiliates to pay yield would create a loophole that could pull deposits away from banks, and have urged lawmakers to restrict the practice as they negotiate a broader crypto market structure bill.
The Digital Asset Market Structure Clarity Act, known as the CLARITY Act, is designed to provide a clear regulatory framework for digital assets. The House of Representatives passed the measure on July 17, 2025, and it has been under debate in the Senate since.
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Initially scheduled for mid-January, the Senate Banking Committee’s markup of the bill was postponed indefinitely amid disputes over stablecoin yield.
On Tuesday, US President Donald Trump criticized banks for stalling the Senate’s bill.
“The Genius Act is being threatened and undermined by the Banks, and that is unacceptable — We are not going to allow it,” said Trump in a Tuesday post on the Truth Social platform.
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Separately, the GENIUS Act, which was also passed by the House alongside the CLARITY Act in July 2025, is a federal framework for regulating stablecoins. It prohibits issuers from paying interest or yield solely for holding a payment stablecoin. Third-party platforms, however, can still offer rewards programs tied to stablecoin balances. GENIUS was signed into law by Trump on July 18, 2025.
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