Three infrastructures private stablecoins, central bank currencies, ISO 20022 messaging converge in 2026 toward a single function: programmable and structured settlement of value. Whoever controls the plumbing captures the rent; whoever measures it secures it. Status report • Stablecoins: $308B as of August 13, 2026, +14.3 on May 17, 2026. USDT 59% of…
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