a16z Crypto: 9 Charts to Understand the Evolution of Stablecoins
Stablecoins are evolving from trading instruments to core financial infrastructure, driven by regulatory clarity and increased adoption. Key trends include accelerated growth following the U.S. GENIUS Act and the EU’s MiCA framework, which spurred non-USD stablecoin activity. Consumer-to-business transactions are growing fastest, doubling in 2025, while stablecoin card usage has surged. Velocity has nearly doubled since 2024, indicating active use rather than passive holding. Geographically, Asia dominates volume, led by Singapore, Hong Kong, and Japan. Notably, domestic transactions now account for nearly three-quarters of payments, highlighting stablecoins' role as local payment mediums on global infrastructure. Non-USD stablecoins, like Brazil’s BRLA, are also gaining traction. The data suggests stablecoins are becoming ubiquitous payment tools—global in design but increasingly local in practice.
marsbit1h ago