The $60,000,000,000 stablecoin USDC just went live on XRP Ledger. Amazon and Walmart move $500B / year in sales & are now exploring stablecoins too. What's going on here? If you don’t see how these are connected, the #1 thing you need to understand is that there is not going to be a single stablecoin to rule them all. There are going to be many, many stablecoins However, liquidity will concentrate around a select few as the primary bridge stablecoins that tie together all the rest. Stablecoins are going to digitize the way modern companies conduct their financial operations. This is why "normal" tech companies like Uber, Stripe, Shopify, Amazon and even Walmart are considering integrating stablecoins. Some of these companies are large enough that it actually makes sense to launch a stablecoin even if it's not used externally. If you are running a business that processes $100 billion in volume each year, there are going to be many, many times when even internally your money gets slowed down by the existing financial system as you're moving capital across your different banks, accounts and treasury solutions. What this means though is that some companies will launch stablecoins for internal purposes, while others will launch stablecoins for external purposes. It is exciting to see Amazon considering launching a stablecoin, but it's really about the second order effect (which external stablecoin will it use for the necessary liquidity to interoperate with the rest of the financial system) that people should be watching. So what are the top contenders here? USDT, despite it's size is still regarded with a lot of suspicion among Western businesses due to it being offshore, unregulated and lower transparency. In addition, they have focused primarily on payments in emerging markets, not businesses and not the West. USDC, primarily has adoption in DeFi and occasionally in Western B2B payments. RLUSD, is far more focused on institutional liquidity through acquisitions like Hidden Road, MetaCo and Standard Custody. It is going to take massive investment to become the institutional stablecoin of choice, but the one that seizes this opportunity will play one of the most important roles in the future of the entire global financial system. If you found this helpful, share with friends and follow me: @OnchainAustin There are also some key things I wasn't able to cover here. If you want to go deeper, check out this video I just shared on youtube: