Article by Chris Dixon

Article compiled by: Block unicorn

Chris Dixon is a general partner at a16z and leads its crypto investment division.

The internet has globalized information, and cryptocurrencies are having a similar impact on currencies. While recent headlines may focus on the price of Bitcoin, a deeper and more lasting transformation is taking place in the digital payments sector. This year, stablecoins—cryptocurrencies pegged to assets such as the US dollar—are increasingly becoming the mainstream choice for online and international payments.

This could be called the “WhatsApp moment” of the monetary world. Just as messaging apps like WhatsApp reduced the cost of international text messaging from around 30 cents per…