Why Visa and Mastercard are so active in promoting stablecoin payments? The truth lies in every cashback you swipe, and to some extent, this is also the original intention of turning to encircle and strangle blockchain. First, let me share some hot knowledge. Have you ever wondered why so many credit cards can offer cashback up to 3%? Because every time you swipe your card, Visa can charge merchants up to 3% of the transaction fee, plus an additional fixed fee. These two fees are also the source of credit card profits, so the cashback you receive is actually a portion of the transaction fee charged by the credit card from the merchant to subsidize you. This is why many merchants do not allow small card swipes because the profit margin is already thin. For a few dollars, the combined transaction fee and fixed fee paid to the credit card may exceed 20%. At this point, you may feel that these cannibalistic credit card companies are too despicable for squeezing merchants after mastering payment channels. They need to use Satoshi Nakamoto's "peer-to-peer payment" method to transform this backward industry! If merchants all use blockchain to receive payments, without high transaction fees, POS machines, bank reconciliation, cross-border settlements, and other complicated matters, how exciting it would be! Yeah, the merchants are enjoying themselves, but who else does Visa or Mastercard ask for transaction fees? So in order to avoid being revolutionized by the blockchain, they must first revolutionize the blockchain themselves Yeah, the merchants are enjoying themselves, but who else does Visa or Mastercard ask for transaction fees? Directly exited the historical stage and became Kodak and Nokia. So in order to avoid being revolutionized by blockchain, they must first revolutionize the life of blockchain. At this point, your question arises again, but aren't they already actively integrating stablecoin payments? Isn't this risking one's own life? The most crucial point here is that regardless of whether the user uses fiat or stablecoin, Aptos or Polygon, as long as you still use a credit card, there will be no change for the merchant. The credit card will cooperate with Circle and Stripe to convert U into fiat and give it to the merchant. Therefore, the merchant still has to pay up to 3% handling and fixed fees to Visa and Mastercard. The earliest concept of stablecoin payments was that from LV in New York to breakfast shops in Africa, all users only needed a wallet address to complete real-time payments with just a few cents of gas fee. And now, stablecoin payments seem to have nothing changed.