a16z: Stablecoins are evolving from transaction tools into core financial infrastructure, with Q1 transaction volume reaching $4.5 trillion

Odaily reported that a16z's latest research indicates that stablecoins are gradually evolving from initial transaction settlement tools and value storage vehicles into global financial infrastructure. The data shows that following regulatory clarity driven by the US 'GENIUS Act', the stablecoin market has accelerated further, with adjusted transaction volume reaching approximately $4.5 trillion in the first quarter of 2026. The report reveals that consumer-to-business (C2B) stablecoin transactions grew 128% year-over-year, reaching 284.6 million transactions. The monthly collateralized deposits for stablecoin card programs also surged from near zero at the end of 2024 to over $300 million by early 2026, reflecting the rapid expansion of stablecoin payment use cases. Meanwhile, the velocity of stablecoins has increased from 2.6x to 6x since the beginning of 2024, indicating a shift from being "held" to being "frequently used." a16z believes that the application focus of stablecoins is shifting from cross-border payments to local payment infrastructure, particularly evident in markets such as Asia and Brazil.