According to Wu Blockchain, PYMNTS analysis points out that competition in the stablecoin market is shifting from issuance scale to distribution capabilities. Bank relationships, payment networks, wallets, merchant gateways, and enterprise software are becoming the new core competitive areas. As companies like Visa, Stripe, and Samsung ramp up their stablecoin strategies, issuers will not only need to expand circulation but also compete for channels that truly reach users and drive transactions. New models like Open USD are also attempting to incentivize distribution partners by sharing reserve earnings, indicating that stablecoin competition is gradually shifting from 'who issues the tokens' to 'who controls the access points.' https://(wublock123.com)/news/stablecoin-competition-from-issuer-to-distribution-channels-66608