Stablecoins, as experts believe, can become a serious threat to the credit card market in the U.S., where high transaction fees reach 4%. What are the real dynamics of this interaction?
Current Situation with Swipe Fees
In an article published by Paul J. Davies in Bloomberg, it is stated that stablecoins represent a threat to credit cards in the U.S., practically forcing people to rethink the use of credit cards. Transaction fees in the U.S. are on the rise and may lead many merchants to consider stablecoins as a more profitable alternative.
Competition Between Stablecoins and Credit Cards
Stablecoins are proposed as faster and cheaper ways of making transactions. With rising swipe fees on credit cards, many consumers may start paying attention to the advantages offered by stablecoins, such as settlement speed and the absence of intermediaries.
Opportunities for Future Collaboration
Denelle Dixon, CEO of Stellar Development Foundation, believes that stablecoins do not threaten the existing payment system but offer new opportunities for integration. She asserts that credit card companies can benefit from cooperating with the stablecoin sector, allowing them to remain relevant amidst changes in financial transactions.
Stablecoins pose a new challenge to the credit card industry, but they also open opportunities for cooperation between traditional financial institutions and new technologies.
