Wu said that a16z crypto released the latest report indicating that stablecoins are gradually evolving from trading tools into financial infrastructure. The report shows that after the implementation of the U.S. stablecoin regulatory framework GENIUS Act, the related adjusted trading volume is projected to rise to approximately $4.5 trillion in Q1 2026; at the same time, the circulation speed of stablecoins has increased from 2.6 times to about 6 times since early 2024. The report also points out that stablecoin use cases are shifting from cross-border transfers to local payments and commercial transactions, with about two-thirds of the current payment volume coming from Asia.