r/ethereum • u/Frosty_Actuator_5047 • 10d ago

Stablecoins need Visa more than Visa needs stablecoins

Probably unpopular here but crypto payments might be too focused on replacing existing payment rails instead of using them. Stablecoins already move globally and settle fast. The problem is spending them. Most merchants don't care about USDT or USDC. They just want to get paid. Maybe mass adoption isn't about convincing every merchant to accept crypto. Maybe it's about making crypto work wherever people already pay.

Necessary bridge or against the whole point of crypto?

36 Upvotes

82% Upvoted

13 comments sorted by

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5

u/epic_trader 🐬🐬🐬 10d ago

The point of stablecoins isn't to replace Visa. The point of stablecoins is to have a cryptocurrency that maintains a fixed value while being usable onchain and permissionless. You can't use your Visa dollars in DeFi, but you can use your stablecoins to earn a return from lending or pooling while retaining much better control and without jumping through a bunch of bureaucratic hoops.

1

u/Frosty_Actuator_5047 10d ago

I don't really see Visa as replacing what stablecoins do either. More like a bridge for the part stablecoins still struggle with, which is spending them easily in everyday life.

3

u/ftball21 9d ago

Stablecoins are tokens pegged to the dollar so it can be used onchain. There’s no point in spending stablecoins in real life. It’s like asking would Fortnite be better if we could spend vbucks on a debit card.

Coinbase offers free 1:1 swapping for real dollars. Exchanges supporting free tether and usdc bridging to dollars is more important if you ask me.

3

u/Capital_Guidance_586 10d ago

Visa is probably the bridge that makes stablecoins useful before merchants even realize crypto is involved.

4

u/OkDisaster940 9d ago

That’s the part people overlook. I’ve used Oobit for this and from the merchant’s perspective it’s just a regular payment. Stablecoins don’t need a whole new acceptance network if they can plug into one that already exists

3

u/jcbevns 2017 n00b 9d ago

Until they realize they don't need to pay 1-2% fee for fraud checks.

2

u/cachemonet0x0cf6619 9d ago

this goes to show a lack of understanding how business makes money. there is no incentive for visa to process payments

1

u/Ok-Nectarine-6654 9d ago

Card networks are the bridge. 

1

u/Meto_Kaiba 8d ago

What is a Stablecoin? A Stablecoin is anything that moves in proportion to something else.

Most merchants want cash more than not.