a16z: Stablecoin Q1 trading volume reached $4.5 trillion, C2B trading volume increased by 128% year-over-year

Golden Finance reports that a16z has released its latest research report, which states that stablecoins are evolving from their original roles as transaction settlement tools and stores of value into global financial infrastructure. The focus of their applications is shifting from cross-border payments to local payment infrastructure, a trend that is particularly evident in markets such as Asia and Brazil. The specific data are as follows:

1. After the GENIUS Act drove regulatory clarity, adjusted stablecoin trading volume in the first quarter of 2026 reached approximately $4.5 trillion;
2. The volume of stablecoin transactions from consumers to merchants (C2B) rose 128% year over year to 284.6 million transactions;
3. Monthly collateral deposits for stablecoin card projects also increased from nearly zero growth at the end of 2024 to over $300 million in early 2026, reflecting the rapid expansion of stablecoin payment scenarios;
4. Since the beginning of 2024, the circulation velocity of stablecoins has risen from 2.6 times to 6 times, indicating that stablecoins are shifting from being “held” to being “frequently used.”