a16z Crypto believes 2026 will be a pivotal year for the digital asset sector as the industry matures beyond speculation and trading-centric models. In its outlook, the firm argues that stablecoins are on track to become a foundational layer of global finance, with the potential to rival or even surpass traditional card networks by enabling faster, cheaper, and internet-native payments. This shift could accelerate long-delayed modernization in banking, as digital wallets and decentralized networks take on roles traditionally held by financial institutions.

The firm also highlights privacy as one of the most important competitive advantages in crypto’s next phase. Rather than being seen as a drawback, the ability to conduct transactions that are both verifiable and confidential is expected to attract users and enterprises seeking secure financial activity on public blockchains.

While current market conditions remain subdued, with low trading volumes and fading momentum across many assets, a16z points to improving macroeconomic signals as a potential catalyst. Easing monetary policy, lower interest rates, and renewed liquidity could favor risk assets, including crypto. Against this backdrop, the firm argues that the success of the next cycle will depend less on hype and price speculation, and more on whether crypto can deliver practical, everyday financial services at global scale.