Why the resistance anyway? Simple answer: competition.

For traditional financial players, payments aren't just a service—they're a cash machine. Consider the numbers: banks raked in $176 billion in interest alone on Fed reserves during 2024. Merchants? They're getting hammered with record-high card processing fees.

When you've built an empire on these margins, any threat to the status quo triggers a defensive reaction. New payment systems? Digital alternatives? They're not just competition—they're a direct hit to the profit engine that's kept the system humming for decades.