A recent report by a16z crypto highlights the transformation of stablecoins from mere trading tools to essential financial infrastructure. Following the implementation of the GENIUS Act, a regulatory framework for stablecoins in the U.S., adjusted transaction volumes surged to approximately $4.5 trillion in Q1 2026. Additionally, the velocity of stablecoin circulation has increased from 2.6 times in early 2024 to about 6 times currently. The report also notes a shift in stablecoin usage from cross-border transfers to local payments and commercial transactions, with approximately two-thirds of payment volume now originating from Asia.