Original sourceCryptoSlate
Summary
CryptoSlate analyzed the stablecoin card business model: merchants receive local fiat, and the card settles through a crypto-to-fiat bridge, so merchants never touch crypto assets directly. Key players include Visa partner Bridge (acquired by Stripe), Wirex and Rain, which provide infrastructure an…
Key points
- Explains the revenue split and cost structure behind stablecoin cards, helping judge the sustainability of rewards and fees.
- Understanding how fees are split among issuers, infrastructure and merchants is key to judging the long-term viability of stablecoin card programs.
- When designing rewards, businesses must factor in interchange caps and fraud and support costs to avoid unsustainable subsidies.
Editorial note
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