Everyone keeps framing it as Circle versus the banks.
I don't see it that way anymore.
A year ago the main narrative was crypto vs TradFi.
Now Visa, Mastercard, Stripe, PayPal, Western Union and almost every major player is actively building their own stablecoin products.
This is the real signal.
The technology didn't suddenly get better in 2026. USDC has been moving dollars onchain for years. Instant settlement wasn't invented last month.
What changed are the incentives.
For decades cross-border payments were an incredibly profitable business: slow transfers, hidden FX spreads, intermediaries at every step. Everyone in the chain earned money.
Now stablecoins make a large part of that chain unnecessary.
That's why the recent moves by Visa, Stripe and Mastercard are so interesting. They are not "embracing crypto". They are acknowledging a massive business opportunity.
The real question is no longer whether stablecoins will win. They already have.
The question is who will own the rails.
Circle is trying to build a new internet-native financial system around USDC.
The payment giants already own distribution: millions of merchants, compliance infrastructure, customer relationships and regulatory relationships.
Both positions are strong.
My view:
Distribution wins in the short term.
Innovation wins in the long term.
That's why right now I would rather be Visa, Mastercard or Stripe.
But in 5-7 years I would rather be the company whose infrastructure everyone else is forced to use.
How do you see it?
#Stablecoins #Fintech #USDC #Payments
I don't see it that way anymore.
A year ago the main narrative was crypto vs TradFi.
Now Visa, Mastercard, Stripe, PayPal, Western Union and almost every major player is actively building their own stablecoin products.
This is the real signal.
The technology didn't suddenly get better in 2026. USDC has been moving dollars onchain for years. Instant settlement wasn't invented last month.
What changed are the incentives.
For decades cross-border payments were an incredibly profitable business: slow transfers, hidden FX spreads, intermediaries at every step. Everyone in the chain earned money.
Now stablecoins make a large part of that chain unnecessary.
That's why the recent moves by Visa, Stripe and Mastercard are so interesting. They are not "embracing crypto". They are acknowledging a massive business opportunity.
The real question is no longer whether stablecoins will win. They already have.
The question is who will own the rails.
Circle is trying to build a new internet-native financial system around USDC.
The payment giants already own distribution: millions of merchants, compliance infrastructure, customer relationships and regulatory relationships.
Both positions are strong.
My view:
Distribution wins in the short term.
Innovation wins in the long term.
That's why right now I would rather be Visa, Mastercard or Stripe.
But in 5-7 years I would rather be the company whose infrastructure everyone else is forced to use.
How do you see it?
#Stablecoins #Fintech #USDC #Payments
• • •
Missing some Tweet in this thread? You can try to
force a refresh
