<ul data-eligibleForWebStory="true"><li>Stablecoins are transitioning from niche cryptocurrency instruments to essential infrastructure for commerce, challenging traditional roles in the issuer-merchant-acquirer stack.</li><li>Major companies like Walmart, Amazon, and Shopify are exploring stablecoin integration.</li><li>Visa and Bridge partnered to launch a stablecoin credit card, while Stripe acquired digital wallet firm Privy to simplify crypto onboarding.</li><li>Despite momentum, concerns persist regarding oversight, standards, and risk controls in the stablecoin space.</li><li>Stablecoins serve as a settlement layer offering speed, traceability, and reduced counterparty risk.</li><li>Use of stablecoins for consumer payments raises questions about liability and dispute resolution.</li><li>Stablecoin adoption differs globally, providing stability in high-inflation countries and circumventing capital controls in others.</li><li>The future may involve a hybrid system with stablecoin and fiat payments coexisting in various sectors.</li></ul>

Making Sense of Where Stablecoins Fit in the Issuer-Merchant-Acquirer Stack

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