STABLECON TAKEAWAYS

Summary from the TLDR Crypto newsletter

There was a surprising lack of understanding around USDT's historical importance in U.S. crypto circles at the Stablecon conference. Western markets are primarily driven by stablecoin programmability while emerging markets value their permissionless nature. The real profit opportunity lies in FX orchestration layers, which will need massive transaction volumes to achieve scale. Stablecoin user experiences differ greatly between U.S. savers/spenders and users in other regions. Tether's continued dominance is attributed to its strong user and liquidity network effects, while local stablecoins will require integration into a global USDT liquidity pool to succeed.