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FollowingArbitrum One stablecoin holders exceeded 11.3 million, and the network entered a new milestone.
Arbitrum One has crossed a new milestone, with the number of active stablecoin holders exceeding 11.3 million. This number has accelerated significantly from the approximately 10 million holders recorded in early May 2025, highlighting the network's growing status as the default execution layer for activities along the dollar-denominated chain.
Dominant stablecoin infrastructure on Ethereum L2
This growth consolidates Arbitrum's leading position in the Ethereum Layer 2 landscape. According to DeFiLlama data, Arbitrum ranks first in the TVL stablecoin in Ethereum L2 in 2025, with an on-chain stablecoin of approximately US$7.4 billion, ahead of Base's US$6.1 billion and OP Mainnet's US$1.9 billion.
USDC holds the largest share, and USDT and PYUSD are other important assets in circulation. PYUSD's size on the Arbitrum network has grown significantly. Data from Entropy Advisors shows that PYUSD held on Arbitrum exceeds $220 million, making it the network's third-largest stablecoin, behind USDC and USDT.
PayPal's stablecoin expanded to Arbitrum in July 2025, adding another institutional asset to the liquidity base on the chain.
Institutional momentum is advancing in parallel with retail growth
The surge in stablecoin holders does not occur in isolation. The Arbitrum Foundation pointed out that the supply of stablecoins on the network has increased by 82% throughout 2025, and that the chain has also become the preferred platform for institutions such as Robinhood, Franklin Templeton and BlackRock to launch financial products.
Monthly stablecoin transfers on Arbitrum have exceeded US$50 billion, indicating that assets are actively circulating between applications rather than idle. Low costs and fast finality remain key attractions.
This deep mobility makes Arbitrum the most advantageous place for DEX aggregators to compete in routing quality, Gas costs, and MEV protection.
As retail users and institutional partners simultaneously expand their presence, Arbitrum's 11.3 million active stablecoin holders marks that the network has moved far beyond the early adopter stage and into mainstream settlement infrastructure.
