“MONEY 3.0” THESIS FOR STABLECOINS

Summary from the TLDR Crypto newsletter

Stablecoins mark a foundational shift from batch-based legacy finance to real-time, programmable money, creating new markets and value layers. There are four core layers in the stablecoin stack: issuance (where trust lives), infrastructure, orchestration, and distribution. While most builders chase the middle layers, the most defensible value lies at the edges, specifically issuer network effects and end-user distribution scale. The stablecoin market cap is at $232B and projected to hit $400B by year-end.