The 'stablecoin sandwich' is dead: Why the next phase of crypto payments is all about the user relationship

According to the person behind Meta's abandoned Diem token, the competitive advantage in stablecoins has shifted from technology to distribution networks held by incumbent players. This represents a fundamental change in how stablecoin success is determined in the evolving crypto payments landscape.

• →The competitive moat in stablecoins now lies in distribution networks rather than technology.
• →Incumbent stablecoin providers have significant advantages through their established distribution channels.
• →The insight comes from someone with direct experience in large-scale stablecoin development through Meta's Diem project.
• →The crypto payments industry is entering a new phase focused on user relationships and distribution.
• →Traditional technological advantages may be becoming commoditized in the stablecoin space.