A Fintech Expert On Stablecoins And The Future Of Payments
Listen to this one if you have exposure to the payments sector
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I am a major cryptocurrency skeptic. Stablecoins have begun to pique my interest, though.
These fiat-linked currencies may be the first product in crypto to actually do something. I am as shocked as you are reading that statement.
Which is why I wanted to bring a financial technology expert onto Chit Chat Stocks. Jev from the Popular Fintech newsletter (subscribe here!) was a fantastic guest on this week’s show, with the links to the podcast above. You can listen wherever you get your podcasts.
Stablecoins promise a reduction in costs across payments (cross-border or otherwise) while still linking the value of your coins to a stable fiat currency like the United States dollar.
There is a lot of potential here, as long as the promises being made are kept. Regulations are getting put up, and the United States government may be embracing digital currencies.
Still, there are a lot of issues that come up.
What happens to the credit card networks?
Will consumers adopt stablecoins if that means giving up the credit card rewards ecosystem?
Where will the payment terminal fees end up?
How will the fees to convert back to fiat currency
Can stablecoins eventually get broad enough acceptance to allow someone to live their life without ever converting back to fiat?
Are stablecoins actually different than the US dollar?
We cover all this and more on this week’s podcast. Give it a listen if you own any stock in the financial sector, payments or not. This just might be a disruptive threat to the entire space.
-Brett