《Multicoin: Why We’re Bullish on Stablecoins Becoming FinTech 4.0?》 (by Spencer Applebaum & Eli Qian) Multicoin categorizes financial technology into 1.0 Digital Distribution, 2.0 Neobanks, and 3.0 Embedded Finance. They point out that over the past two decades, most innovations have been limited to UI, customer acquisition, and API abstraction layers, while funds still primarily rely on closed, permissioned networks like ACH, SWIFT, and card networks. This has led to homogenized infrastructure, rising compliance costs, and profits being captured by banks and network layers. They believe stablecoins will usher in “FinTech 4.0,” where cost reductions will give rise to a wave of “focused stablecoin fintechs/neobanks.” Read the full article: https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=47&id=55721