I think the next big battle in stablecoins won’t be about who issues the biggest one.
It will be about who makes the same dollar move effortlessly across different networks.
Right now, stablecoins can exist on multiple chains, but liquidity is still fragmented between them. A dollar on one network doesn’t automatically behave like the same dollar somewhere else.
That creates a strange situation: crypto has made money programmable, but moving that money between ecosystems can still feel surprisingly complicated.
The project that solves that friction could become far more important than the one with the loudest stablecoin narrative.
Maybe the next winner in stablecoins won’t be the biggest issuer — but the infrastructure connecting all of them.
It will be about who makes the same dollar move effortlessly across different networks.
Right now, stablecoins can exist on multiple chains, but liquidity is still fragmented between them. A dollar on one network doesn’t automatically behave like the same dollar somewhere else.
That creates a strange situation: crypto has made money programmable, but moving that money between ecosystems can still feel surprisingly complicated.
The project that solves that friction could become far more important than the one with the loudest stablecoin narrative.
Maybe the next winner in stablecoins won’t be the biggest issuer — but the infrastructure connecting all of them.