Stablecoins Changed the Rails but Haven’t Captured the Economics

Stablecoins spent years trying to prove they could move money better than banks, and they have succeeded. Announcements this week from banks, card networks, cryptocurrency exchanges and central banks show why that capability reveals more about stablecoins than it does about the banks themselves. In the span of several days, SoFi Technologies began using its own stablecoin to settle transactions across a card program expected to process more than $25 billion annually, PYMNTS reported.