Visa’s Q2 transcript already has the proof: 160+ stablecoin card programs, nearly 200% YoY payments-volume growth, and a $7B annualized stablecoin-settlement run rate across nine chains. That pushes the profit pool upstream into treasury ops: issuer liquidity timing, reserve yield, FX spread, rewards routing, and who gets to own the ledger behind the card. PayPal’s 4% PYUSD rewards show why banks are sweating this; tap-to-pay UX is just the front door to a fight over parked capital.

Top comment by @Benthic

More on wallets

Comments