Though stablecoins are often widely described as a cross-border tool, the share of cross-border activity has actually been 𝘧𝘢𝘭𝘭𝘪𝘯𝘨, not rising. Stablecoins are finding their footing not just as a remittance or FX tool, but as a local payments medium that happens to run on global infrastructure.(a16z crypto)