[a16z Crypto: Stablecoins Have Become the Core of Global Financial Infrastructure] According to a post by a16z Crypto explaining the investment logic behind Arc, stablecoins have evolved from tools for crypto trading to the core layer of global financial infrastructure. Last year, the transaction volume reached approximately $9 trillion, with the supply of USD stablecoins exceeding $270 billion. The core use cases for stablecoins include cross-border payments, B2B settlements, and foreign exchange transactions, gradually becoming the 'upgrade layer for global capital flows.' a16z Crypto stated that existing blockchain infrastructure lacks native support for large-scale institutional demands. Participation in the ARC token ecosystem is driven by the gradual on-chain migration of global finance, with only a few public blockchains expected to support the 'base layer of the on-chain economic system' in the future.