STABLECOIN ADOPTION ISN'T A TECH PROBLEM, IT'S AN INCENTIVE PROBLEM

Summary from the TLDR Crypto newsletter

Stablecoin adoption is less about lower fees or faster settlement, and more about solving a multiplayer coordination game. Each transaction touches users, banks, and processors, none of whom want to move first due to switching costs like lost float or operational retraining. To succeed, builders must find wedge use cases where a single actor (like a cardholder) can adopt unilaterally and extract clear value. Stablecoin cards, for instance, grow faster than merchant rails because the user doesn't need to wait for ecosystem buy-in. Incentives, not just infrastructure, ultimately determine stablecoin success.