A new report from Coinbase and The Block Pro Research measures how stablecoins are used for payments outside the hours when banks are open.

In the third quarter, organic stablecoin transfers averaged more than $400M per hour, and around 73% of screened transfer volume took place outside U.S. banking hours.

The report also finds that adjusted stablecoin transaction volume has quadrupled since early 2023. Sending a $200 remittance in USDC on Base costs about 86% less than through traditional rails.

The data points to stablecoins working as a payment rail that runs 24/7, while bank transfers still stop on nights and weekends.