A16z's latest crypto report points out that stablecoins have become an important force in the global macro economy: more than 1% of US dollars exist on public blockchains in the form of tokenized stablecoins, and their holdings of US bonds have risen from 20th last year to 17th. Stablecoins currently hold more than $150 billion in US debt - more than the holdings of many sovereigns.
Meanwhile, national debt ballooned in spite of weaker global demand for US Treasuries, the first time in 30 years that foreign central banks held more gold than Treasuries.
But more than 99 percent of stablecoins are denominated in U.S. dollars, and their size is expected to grow tenfold to more than $3 trillion by 2030, which could provide a strong and sustainable source of demand for U.S. debt in the coming years.
A16Z: Stablecoins could become a strong and sustainable source of demand for U.S. debt in the future
2025-10-23 03:44:30
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