Excited about stablecoins? You're not bullish enough yet. Let me explain why Crypto has 4 mass-market use cases today: 1) Store of value. Almost half a billion people have owned crypto. BTC has been the best performing asset of the past decade. Interest to hold BTC and other crypto assets is rapidly increasing. 2) Trading. Coinbase’s core biz and a source of livelihood for thousands if not millions of people. 3) Staking. A better way to save and earn. 4) Stablecoins. The future of global payments. 1 & 2 have been around for over a decade. Staking went mainstream about 5 years ago. And we are only now seeing stablecoins take off. It is becoming increasingly clear that stablecoins are the future of payments, and the backbone of the emerging global digital economy. They are starting to eat legacy credit, debit, and banking networks. Eventually stablecoins will become so embedded in commerce that consumers will transact in them without realizing it. How big can that get? Citigroup estimates the total stablecoin market cap to be at $1.6 trillion by 2030 - and others put this as high as $3.7 trillion. Even more impressive, they also estimate the total addressable market for cross-border transfers at $195 trillion. As big as these projections are, they’re still sleeping on the opportunity and missing a few very important things: • Stablecoins are more than a financial plumbing update - this will be an overhaul to the existing system. They offer a new global, open financial network that will drive the mass migration of unbanked or underbanked individuals and businesses into the global economy. • Stablecoin rails + self-custodial wallets = internet-native bank accounts that are open to everyone everywhere. Stablecoins are growing the global economic pie. • We already know stablecoins are especially compelling to people who are underbanked and who live in countries with currency instability. We’ve also seen data that shows stablecoin payments attract new customers to merchants, allowing individuals who were previously sidelined to participate in global commerce. Now think one step further: • What about AI agents and faster, automated transactions leading to more volume? • What about small, cash-oriented businesses around the world going digital? Stablecoins enable payments for the internet age. As the network and tech grows, these things become possible. Technology moves in concert, and we see stablecoins enabling an exponential increase in the pace of money movement. By 2030, every person and business who uses the internet (and a huge contingent of those who currently don’t) will interact with stablecoins. Coinbase is going to make sure of it. Stablecoins are critical to our mission of increasing economic freedom by unlocking more open, fair, free, and transparent financial services (DeFi) globally, unencumbered by legacy financial systems. The TAM is massive, and we’re just getting started.