CRYPTO CARDS AREN'T THE ENDGAME, BUT THEY'RE NOT DEAD EITHER

Summary from the TLDR Crypto newsletter

Dismissing crypto cards because they're “not the endgame” misses how infra transitions actually happen, as we won't jump from SWIFT to self-custodial ZK payments overnight, and cards exist because merchant acceptance rails haven't moved yet. Commoditizing Cards-as-a-Service is an accelerant (not a weakness) that pushes differentiation up-stack into custody, yield routing, tax/FX transparency, UX, and compliance. Most crypto cards will die, especially in bear markets, but the winners will be self-custodial, multi-stablecoin native, yield-safe, low-FX, niche-focused, and genuinely user-first.