A16z Crypto has published a new stablecoin market report.
9 different charts have been selected, each one focusing on a narrative deduced from data put together by top blockchain and stablecoin data companies, such as Allium, Visa, Dune and Artemis Analytics.
The area that stood out the most was in the payments category. Real adjusted stablecoin payment volumes in 2025 were reported to be in the range of $350-$550B, and most of those took place across Asia with a majority of 63%, followed by North America and Europe.
The most surprising claim was that cross-border stablecoin transactions seemed to be declining in parallel to national stablecoin volumes growing, as presented in the case of BRLA stablecoin in Brazil.
Most likely cross-border is dominating other areas.
Unsurprisingly, both MiCA and Genius Act frameworks are illustrated as opening the gates for their respective currency-backed stablecoins (Euro and non-dollar vs. dollar).
As a result, the former is bringing in about $15-$20B in monthly for non-dollar stablecoin volumes, with plenty of catching up to do as the U.S. dollar reigns supreme in total market share.
Other mentions cover the rise of stablecoin spending cards (collateral backed made as a caveat) in partnership with popular issuer Rain to around $300M a month, as well as the total velocity of stablecoins in circulation increasing to 6x.
The report zoomed in more in contrast to A16z’s last stablecoin report. Overall, stablecoin data shows clearer narratives aligning.
