Banks, card networks, fintechs partner on ‘low-cost’ stablecoin

Major payments players like Visa, Mastercard, Stripe, and Adyen are backing a new 'low-cost' stablecoin standard. This is a big deal for retailers because it signals a shift toward cheaper payment processing. Traditional credit card fees eat into your margins. This initiative, led by a consortium called Open Standard, aims to create a digital dollar that moves instantly with near-zero transaction costs. For your business, this means the infrastructure for 'real-time payments' is maturing. Instead of waiting days for merchant settlements or paying high interchange fees, you could eventually accept these digital dollars just like cash. The involvement of global card networks suggests that this won't be a niche crypto product. It is being built to integrate with the systems you already use. While you don't need to change your checkout process today, you should watch this space. The goal is to make moving money as free and fast as sending an email. If this gains traction, it could significantly lower your cost of doing business and provide more flexibility in how you fund customer purchases or pay your own suppliers.

Source: Banking Dive

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