a16z Report Highlights Potential for Stablecoins to Rival Visa in 2025

• Institutions like BlackRock and JPMorgan are fully integrating crypto products and blockchain infrastructure.

• Stablecoins now process over $46 trillion annually, rivaling traditional payment networks like Visa.

• Blockchain throughput has surged to over 3,400 transactions per second, a 100x increase in five years, per the report’s metrics.

Discover the 2025 State of Crypto Report insights on institutional adoption, stablecoins, and AI integration shaping finance. Stay ahead with expert analysis and key trends—read now for actionable crypto strategies.

What is the 2025 State of Crypto Report?

The 2025 State of Crypto Report from Andreessen Horowitz (a16z) details the industry’s maturation, emphasizing widespread institutional adoption and the shift of crypto to the forefront of global finance. It covers advancements in stablecoins, infrastructure, and regulatory frameworks that have propelled the market cap beyond $4 trillion. Usage metrics, including wallet activity and transaction volumes, have reached record highs, signaling robust growth.

How Are Stablecoins Challenging Traditional Payments in 2025?

Stablecoins have achieved significant product-market fit, facilitating over $46 trillion in annual transactions, a volume that rivals Visa’s network. According to the a16z report, Circle’s initial public offering and increased mentions in SEC filings underscore institutional confidence. Blockchain networks now handle more than 3,400 transactions per second, marking a 100-fold improvement over the past five years, which supports scalable onchain applications for payments and beyond.

2025 marks a pivotal year as traditional finance giants and tech platforms embrace crypto, stablecoins rival payment networks, and AI convergence accelerates.

The 2025 edition of the State of Crypto report by Andreessen Horowitz (a16z) underscores a critical turning point for the industry: widespread institutional adoption, mainstream stablecoin use, robust infrastructure, and regulatory clarity have pushed crypto from the periphery to the center of global finance. 

According to Chris Dixon, General Partner at a16z crypto, “crypto has become a meaningful part of the modern economy,” with market cap surpassing $4 trillion and usage metrics hitting all-time highs.

The report outlines how banks, asset managers, fintechs, and payments companies are now moving beyond exploration to full-scale crypto integration. Traditional financial incumbents like BlackRock, JPMorgan, and Fidelity have joined tech-native players such as PayPal, Robinhood, and Stripe in offering crypto products or building native blockchain infrastructure. 

New U.S. laws like the GENIUS and CLARITY Acts have clarified crypto regulation, supporting developments in onchain payments, RWA tokenization, and wallets. The report also notes the convergence of AI and crypto, enabling innovations in identity verification and agent-based financial services. a16z has launched a dashboard to monitor key indicators, including wallet usage, ETF inflows, developer activity, and stablecoin transaction volumes.

Frequently Asked Questions

What Drives Institutional Adoption in the 2025 State of Crypto?

Institutional adoption in the 2025 State of Crypto is driven by regulatory clarity from acts like GENIUS and CLARITY, alongside proven infrastructure. Major players such as BlackRock and JPMorgan are launching crypto products and custody solutions, with market cap growth to over $4 trillion reflecting sustained investor interest and integration into traditional finance.

How Do Stablecoins Compare to Visa in 2025?

Stablecoins in 2025 process more than $46 trillion in annual volume, directly competing with Visa’s payment capabilities. This growth stems from enhanced blockchain efficiency reaching 3,400 TPS and institutional backing, like Circle’s IPO, making stablecoins a reliable alternative for global transactions with lower costs and faster settlement.

Key Takeaways

• Institutional Integration: Banks and fintechs like JPMorgan and PayPal are embedding crypto into core operations, accelerating mainstream use.
• Stablecoin Surge: With $46 trillion in volume, stablecoins are outpacing traditional networks, supported by regulatory advancements.
• AI-Crypto Synergy: Emerging applications in verification and finance highlight the need for builders to explore interdisciplinary innovations.

Conclusion

The 2025 State of Crypto Report illustrates how institutional adoption and stablecoin expansion are bridging traditional finance with blockchain technology, fostering a more inclusive global economy. As infrastructure matures and regulations evolve, crypto’s role will only deepen. Investors and institutions should monitor these trends closely to capitalize on upcoming opportunities in tokenized assets and onchain services.

Stablecoins rivals Visa

Stablecoins have achieved product-market fit, powering over $46 trillion in annual transactions, comparable to Visa. Circle’s IPO and rising SEC mentions highlight growing institutional recognition. At the same time, blockchain throughput has surpassed 3,400 TPS, a 100x increase in five years, enabling efficient onchain applications.

The report highlights the growing overlap between AI and crypto, with use cases like identity verification and agent-based finance. a16z also introduced a dashboard tracking metrics such as wallet usage, ETF flows, builder activity, and stablecoin volume.

Institutional crypto custody 

The findings align closely with recent moves by Citibank, which announced it will launch an institutional-grade crypto custody platform in 2026. The platform will target stablecoins and crypto ETFs, capitalizing on new regulatory clarity following the rescission of SEC rule SAB 121.

Citi plans to use its existing infrastructure, including tokenized dollar rails and CIDAP labs, to support cross-border digital asset services.

As a16z notes, “2025 is the year of institutional adoption,” and Citibank’s strategic shift reflects that sentiment. With traditional custodians like Citi entering a space long dominated by crypto-native firms, the competitive landscape is evolving rapidly. 

As post-trade systems evolve and stablecoins gain traction, the divide between traditional finance and crypto is narrowing.

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