[a16z: Stablecoin Q1 Transaction Volume Reaches $4.5 Trillion, C2B Transactions Grow 128% Year-on-Year] Reported by Jinse Finance, a16z has released its latest research report indicating that stablecoins are gradually evolving from their initial roles as transaction settlement tools and value storage vehicles into global financial infrastructure. The focus of application is shifting from cross-border payments to local payment infrastructure, with particularly notable growth in markets such as Asia and Brazil. Specific data includes: 1. Following regulatory clarity driven by the GENIUS Act, adjusted stablecoin transaction volume in Q1 2026 reached approximately $4.5 trillion; 2. Consumer-to-business (C2B) stablecoin transaction volume grew 128% year-on-year, reaching 284.6 million transactions; 3. Monthly collateral deposits for stablecoin card programs grew from near-zero at the end of 2024 to over $300 million by early 2026, reflecting rapid expansion in stablecoin payment scenarios; 4. The velocity of stablecoin circulation has increased from 2.6x at the beginning of 2024 to 6x, indicating a shift from "being held" to "frequent usage."