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427 The 'stablecoin sandwich' is dead: Why the next phase of crypto payments is all about the user relationship

CoinDesk
Ian Allison @ CoinDesk · 02/28/2026 13:00 EDT

The 'stablecoin sandwich' is dead: Why the next phase of crypto payments is all about the user relationship

The real competitive advantage in stablecoins, the moat that holds competitors at bay, now lies in the distribution held by incumbents, according to the person behind Meta's abandoned Diem token.

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