TL;DR:
- a16z says crypto’s focus has shifted from hype to real-world applications.
- $46 trillion in annual volume puts them alongside major payment systems.
- Real-world assets and AI tools anchor crypto’s long-term growth.
Andreessen Horowitz (a16z) says crypto has entered its maturity phase, marked by real utility and institutional adoption. In its State of Crypto 2025 report, the venture firm highlights a significant shift from speculation to application, with stablecoins processing nearly $46 trillion over the past year—putting them on par with traditional payment networks like Visa. Developers and investors are now prioritizing usability, scalability, and integration over hype.
Infrastructure, AI, and Real-World Assets Define the Next Crypto Era
Advancements in blockchain infrastructure have made crypto systems faster, cheaper, and more scalable. Ethereum’s continued evolution and Solana’s throughput of over 3,400 transactions per second are narrowing the gap with traditional financial rails. Privacy-preserving technologies, such as zero-knowledge proofs, are making blockchain transactions both compliant and secure. This technological maturation underpins crypto’s broader role as a financial backbone.
Tokenization is rapidly bridging the gap between traditional and digital finance. The report notes that over $30 billion in real-world assets—ranging from U.S. Treasuries to equities—are now represented on-chain. Clearer U.S. regulations and the growing link between crypto and artificial intelligence have accelerated institutional interest. AI-driven analytics are helping identify fraud, optimize trading, and personalize user experiences.
Stablecoins are emerging as the dominant layer for global payments and liquidity. Institutions like Visa, PayPal, and Citi are now using them for cross-border settlements and treasury operations. a16z observes that stablecoins collectively hold more government securities than several small nations combined. This trend signals a transition from speculation to stable, regulated financial infrastructure.
For a16z, 2025 represents the year crypto finally fulfills its long-promised potential. With scalable infrastructure, regulatory alignment, and practical integration with AI, crypto’s next wave will be defined by products that solve real problems. The firm concludes that the new era of crypto will reward those who build utility, not those who chase hype.
