Jun. 22 at 12:03 AM
$V Stablecoins will not replace cards, period. Let me start listing the reasons:
Stablecoins are not covered by the same consumer protection laws as banks or credit cards. Once stolen, they are very difficult to recover.
Stablecoins are not FDIC-insured. Even when issuers say funds are "held in FDIC-insured banks," that does not mean your stablecoin is insured. FDIC insurance only protects bank depositors—not holders of digital tokens issued against those deposits.
Translation:
If a stablecoin issuer goes bankrupt or mismanages funds, you could lose your money—and you can’t claim it from the FDIC.
Fiat needs to be converted to 'digital' on ramp and off-ramp, and who benefits, Visa and Mastercard, with Visa Direct.... this is hype, don't buy the hype.... traders are driving Circle and Coinbase.... they are not replacements for the card schemes.
The card schemes have millions and millions of global acceptance with merchants - stablecoins do not!
