$Circle(CRCL.US)

Some critical limitations for stablecoin

• Negligible retail-payments adoption of Stablecoins today

• Lack of consumer value proposition

• Functional equivalence to debit, not credit

• Current limitations on merchant infrastructure

• Regulation and Trust

• Retail media and distribution

一些关键的局限性：

目前，稳定币在零售支付领域的应用几乎可以忽略不计。

缺乏对消费者的价值主张

功能上等同于借记，而非贷记

商家基础设施目前存在的局限性

监管与信任

零售媒体与分销