a16z: The Real Opportunity for Stablecoins Lies Not in Disruption but in Filling the Gaps
The article argues that the true opportunity for stablecoins lies not in displacing traditional card networks like Visa and Mastercard, but in serving new types of merchants that cannot access conventional payment systems.
While some in the crypto community believe AI agents will bypass card networks to avoid fees, the author contends cards will dominate most transactions due to their consumer protections (e.g., chargebacks), fraud detection, rewards, and existing infrastructure. Card networks are already adapting to new use cases like AI-driven commerce.
The real stablecoin opportunity exists in the emerging wave of AI-native developers and micro-businesses. These entities—often without legal structure, websites, or traditional banking—are creating tools and generating revenue but are unable to meet the risk and compliance requirements of traditional payment processors. For them, stablecoins are currently the only viable way to receive payments, filling a critical gap until traditional systems adapt.
Thus, stablecoins serve not as a replacement for cards, but as essential infrastructure for the next generation of merchants that existing systems cannot yet underwrite.
marsbit03/06 13:12
