a16z Crypto Founder: Web3's WhatsApp Moment Has Arrived
Chris Dixon, a general partner at a16z Crypto, argues that stablecoins are ushering in Web3's "WhatsApp moment" by revolutionizing global payments, similar to how messaging apps eliminated SMS costs. These dollar-pegged cryptocurrencies processed over $12 trillion in transactions last year (excluding non-human activity), nearing Visa's volume but at a fraction of the cost. Stablecoins are making financial transactions nearly free, fast, and programmable, embedding the internet's openness into finance. While currently used mostly in crypto-native and global commerce, adoption is expanding as integration with traditional finance improves. Major companies like Stripe, Fidelity, and SpaceX are already using them to cut fees, facilitate cross-border payroll, and operate in regions with fragile banking systems. Importantly, stablecoins are reinforcing the dollar's dominance, with issuers like Circle and Tether now holding nearly $140 billion in U.S. Treasuries, potentially becoming top holders. With clear regulations, such as the proposed Clarity Act, stablecoins could form the backbone of a new, open global financial system.
marsbit12h ago