TLDR
- Stablecoins have reached a total transaction volume of $46 trillion over the past 12 months.
- Andreessen Horowitz stated that stablecoins are becoming a global macroeconomic force.
- Traditional financial institutions such as BlackRock and JPMorgan are expanding into the stablecoin sector.
- Blockchain networks now process over 3,400 transactions per second, supporting broader adoption of stablecoins.
- More than one percent of all US dollars currently exist as stablecoins on public blockchains.
Stablecoins are now central to global finance, with transactions reaching $46 trillion in the past year, according to Andreessen Horowitz. This rise comes amid rapid blockchain growth and stronger institutional adoption led by financial giants and fintech firms. The latest “State of Crypto” report outlines how stablecoins are reshaping the global flow of digital dollars.
Stablecoins Adoption Surges With Institutional Backing
Major institutions, including BlackRock, Fidelity, and JPMorgan, have expanded their stablecoin-related services in recent months. Fintech leaders, including PayPal and Robinhood, are also expanding stablecoin offerings, enhancing digital asset accessibility. This shift reflects growing confidence in the efficiency and reliability of blockchain.
Additionally, stablecoins benefit from improved blockchain infrastructure, which now handles over 3,400 transactions per second across top networks. This boost in throughput marks a 100-fold increase in just five years, supporting seamless global transfers. With these advancements, stablecoins now serve real-world payment use cases, not just trading.
Andreessen Horowitz stated, “Stablecoins have become the fastest, cheapest, and most global way to send a dollar.” As traditional payment rails fall behind, stablecoins continue gaining utility and volume worldwide. Their growth also pushes regulators to provide clearer legal frameworks.
Regulatory Moves Drive Stability and Confidence
In the United States, the new GENIUS Act sets reserve and transparency rules for stablecoin issuers. These regulations aim to protect consumers and legitimize stablecoins as mainstream financial instruments. Meanwhile, UK authorities plan to introduce their own stablecoin framework by the end of next year.
Such actions increase institutional confidence and encourage broader integration into regulated financial products. The report attributes this legal clarity to the rising volumes and increased adoption. Stablecoin use has thus expanded beyond crypto traders into real-world business and remittance flows.
More than 1% of all U.S. dollars now exist as stablecoins on public blockchains, according to a16z. This milestone shows that stablecoins are becoming core components of the monetary system. Their presence on-chain enhances transparency, accessibility, and interoperability.
Market Leaders Expand Holdings and Circulation
Tether’s USDt remains the largest stablecoin, backed by $127 billion in U.S. Treasury bills. Overall, stablecoins now collectively hold over $150 billion in Treasurys, making them the 17th-largest holder globally. This puts them ahead of many sovereign nations in terms of U.S. debt exposure.
Circle’s USDC also remains significant, while Ethena’s synthetic stablecoin USDe now has a circulating supply of $11 billion. The stablecoin market, led by these three, has reached a total capitalization of $316 billion. This sharp growth reflects strong demand for trusted, fiat-linked digital currencies.
The a16z report concludes that stablecoins have emerged as a “global macroeconomic force” in the digital finance sector. Their role in the movement of money is growing as they integrate deeper into institutional and retail systems. Stablecoins now represent a durable layer in the evolving blockchain economy.
