STABLECOIN PAYMENTS: WHO ACTUALLY WINS?

Summary from the TLDR Crypto newsletter

The stablecoin payments ecosystem is segmented into seven distinct categories, with settlement rails and stablecoin issuers best poised to capture value through network effects and infrastructure development. While established issuers benefit from high interest rates, they must evolve to focus on infrastructure, compliance, and liquidity to maintain their competitive advantage. Value transfer/money service providers with proprietary infrastructure and direct banking relationships will likely form regional oligopolies, while API aggregators and consumer-focused stablecoin apps face increasing pressure from established fintech players and the commoditization of their services.