2026-01-12 22:28:51

That argument doesn't hold up. Here's why: credit cards and stablecoins operate on fundamentally different economic models.

Credit cards function as credit instruments. The whole system revolves around merchant interchange fees—that's where the money flows. Every transaction triggers a fee split between the card issuer, processor, and acquiring bank.

Stablecoins work more like digital cash or debit mechanisms. The economics stream from a different source: yield generated by reserve assets, typically Treasury holdings. The beauty here is that this income runs continuously, independent of transaction volume. Whether someone makes a payment or just holds the asset, that yield keeps accruing.

These aren't competing products built on the same foundation—they're fundamentally different creatures with different revenue drivers and operational structures.

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BanklessAtHeart

· 01-14 01:22

Cards and stablecoins are fundamentally not the same thing; this point has indeed been clarified.

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PumpAnalyst

· 01-13 15:50

Stablecoins rely on Treasury yields? Buddy, how long this model can last is really uncertain. When US Treasury yields drop, it's game over. --- Credit cards rely on transaction fees to merchants, stablecoins rely on Treasury yields. It sounds different but essentially both are bloodsucking, and in the end, the retail investors are the ones paying the bill. --- Wait, just holding a position can earn yield passively? Isn't this just a new form of Ponzi scheme, where the early participants eat the meat and the later ones drink the soup? --- I want to see how this stablecoin Treasury can be maintained. If the yield stream really stops, how do they stabilize the market? That's too naive, everyone. --- Alright, I admit the models are different, but the fundamental question of where the returns come from hasn't been solved. Is it interesting to talk about economics? --- Holding and earning sounds great, but how many years can this yield last? Don't want to end up with a pile of broken eggs later. --- That's true, but do you dare to invest heavily in stablecoins? I, for one, am too scared.

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fomo_fighter

· 01-12 22:58

To be honest, I buy into this logic. Credit cards rely on transaction fees, while stablecoins earn passive income from asset yields—these are two completely different approaches.

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CryptoTarotReader

· 01-12 22:53

Oh wow, I have to give credit where it's due, credit cards and stablecoins are definitely not playing with the same deck.

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rekt_but_vibing

· 01-12 22:50

That's right, these two things are not the same at all... one relies on trading fees, and the other relies on Treasury income. No wonder people keep comparing them blindly.

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BoredWatcher

· 01-12 22:47

This guy's benchmarking direction is wrong. Credit cards and stablecoins are not the same thing at all... one earns fees, the other earns Treasury yields, it's completely two different logics.

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