0xResearch Markets Are Up, Stablecoins, and Corporate Chains | Livestream
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Aug 22, 2025 Join Mark Arjun, a member of the Blockworks Research team, and Carlos, a savvy crypto analyst, as they dive into the intriguing world of stablecoins. They explore the rise of corporate-backed currencies, such as a potential stablecoin from Walmart, and how blockchain strategies from companies like Stripe are shaking things up. The duo also discusses the growing complexities of stablecoin ecosystems and the interplay between crypto and traditional finance, all while keeping an eye on market sentiment amid current volatility.
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Integration Beats Tech For Payments
- Stripe has a massive integration advantage for payments that makes its dedicated chain more likely to win payments use-cases.
- Building back-end plumbing and merchant integrations is far harder than building the blockchain itself.
Yield Alone Is Not A Sustainable Business
- Circle's yield-based business is fragile because it depends on short-term interest spreads.
- Long-term survival requires expanding product offerings beyond clipping T-bill spreads.
Rails, Not More Stablecoins, Capture Value
- Expect many niche stablecoins to appear but value accrues to the rails that move those coins into real-world commerce.
- Commoditized stablecoins matter less than the back-end rails and distribution partners.