A recent Visa report highlights the significant role of stablecoins in the on-chain lending market, with over $670 billion facilitated in loans over the past five years. As of August 2025, monthly lending volumes reached $51.7 billion, involving 81,000 active borrowers and an average loan size of $76,000. The report notes that USDC and USDT are the primary stablecoins used, comprising over 98% of lending activity. Ethereum and Polygon networks dominate the market, processing 85% of these loans, while platforms like Aave and Compound account for 89% of the lending volume.