Binance is leading all centralized crypto exchanges in stablecoin reserves. According to the latest stats, the crypto exchange currently holds $31 billion in USDT and USDC, which is around 59% of total stablecoin holdings across the sector.
This dominance highlights Binance’s outsized role in providing liquidity and facilitating stablecoin-denominated transactions.
Stablecoin Inflows Favor Binance
When assessing total crypto reserves, Coinbase tops the list with $129 billion in holdings, followed closely by Binance with $110 billion, comprising Bitcoin, ETH, USDT, and USDC, CryptoQuant data revealed. Collectively, the two exchanges have been found to control 60% of the total reserves among the top 20 centralized platforms.
While Coinbase does not publicly disclose wallet-level Proof-of-Reserves (PoR), Binance distinguishes itself through on-chain reporting, including verifiable wallet addresses, which enhances its credibility in the crypto community. On the inflow front, Binance remains the top destination for stablecoins.
In May alone, the exchange received $31 billion in USDT and USDC deposits, as it slightly edged out Coinbase at $30 billion. Year-to-date in 2025, Binance has attracted $180 billion in cumulative stablecoin inflows, which strengthens its role as a primary venue for capital allocation.
More broadly, Coinbase and Binance lead in total crypto inflows this year, bringing in $344 billion and $335 billion, respectively. The figure is well ahead of competitors, which solidifies their continued dominance in institutional and retail capital flows.
Notably, Binance also shows the highest average Bitcoin inflow per deposit, which implies that the exchange attracts large players. On May 22, when Bitcoin hit a record $112,000, Binance’s average BTC deposit surged to 7 BTC.
In contrast, Bitfinex averaged 5 BTC, while OKX, Kraken, and Coinbase saw significantly lower figures at 1.23, 0.7, and 0.8 BTC, respectively, further indicating Binance’s pull among whales.
Stablecoin Adoption Grows
Beyond centralized exchange activity, broader stablecoin usage across the payments landscape also saw significant growth over the past two years. Between January 2023 and February 2025, stablecoin transactions reached $94.2 billion, according to analytics firm Artemis, which surveyed 20 stablecoin payment firms and included estimates from 11 others across sectors such as B2B, P2P, B2C, cards, and prefunding.
Interestingly, Tron led as the top settlement network with about 60% of the volume, while Ethereum, BSC, and Polygon followed.
“Overall, stablecoins have established themselves as growing and significant components of the global payment infrastructure, with expanding usage across transaction types and regions, pointing to their growing centrality in the international economic system.”
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