a16z's latest encryption report pointed out that stablecoins have become an important force in the global macroeconomy: more than 1% of the US dollar exists in tokenized stablecoin form on public blockchains, and its holdings of US debt have risen from 20th place last year to 17th place. Currently, stablecoins hold a total of over $150 billion in US debt - more than the holdings of many sovereign countries.
