"Stablecoins have the same problem, with extra plumbing." This encapsulates the precision of your analysis. In B2B the plumbing matters more than execution speed. In P2P, C2B the battle against the Venmos, card rebates, direct debit seems unwinnable now. On the bright side though: for real estate closings on a Sunday afternoon it's unlikely stablecoins will crush RTP/FedNow.
I think RTP/FedNow eventually work in conjunction with stablecoins, serving as the “last mile” to reach a US consumer. But they both have a long way to go.
This piece captures especially well that payment speed and operational usability are not always the same thing. Real-time movement only matters if the surrounding systems can interpret, reconcile, and act on the information fast enough to support decisions.
"Stablecoins have the same problem, with extra plumbing." This encapsulates the precision of your analysis. In B2B the plumbing matters more than execution speed. In P2P, C2B the battle against the Venmos, card rebates, direct debit seems unwinnable now. On the bright side though: for real estate closings on a Sunday afternoon it's unlikely stablecoins will crush RTP/FedNow.
I think RTP/FedNow eventually work in conjunction with stablecoins, serving as the “last mile” to reach a US consumer. But they both have a long way to go.
This piece captures especially well that payment speed and operational usability are not always the same thing. Real-time movement only matters if the surrounding systems can interpret, reconcile, and act on the information fast enough to support decisions.
Thank you!