I have a high degree of certainty that the next generation of global currency exchange will be won by the behemoths of Visa and Mastercard, with duplicate offerings.

The end result is obvious. Stablecoins provide certainty (when tied to a big, stable currency), and low costs (because blockchain).

The currency itself is irrelevant, that will work itself out. Likewise, solutions might be fixed on one stablecoin, or allow a few different ones. Both seem likely, with different tiers and fees.

Interest can be paid on positive balances, because the providers have actual cash money that they invest.

Cards, yes cards, will work like debit cards today, but globally. If I want to buy flowers for my aunty in Cuba, or send her money, I just use stablecoins. It costs me a fraction of 1% to achieve.

It will primarily be used to send money back home from itinerant workers. That is a massive industry, and to date full of fees and inconveniences. It can also be used to buy things internationally, primarily services, but also for buying from Temu or AliExpress and so on.

While anyone can take the lead with this, Visa and Mastercard have everything already in place, especially the merchants, but also systems. For the tech side of things they will partner, or more likely buy, some business who knows there stuff.

Both payment systems will wait until the last moment to swoop in, and dominate.

Don’t invest in anyone else unless you think they will be the lucky business to get bought.