Running a B2B stablecoin payment business is really a dirty and tiring job. The most difficult part is building the BD and sales teams. Traditional payment companies transitioning into this space need to spend time learning and establishing customer relationships; those who have been in the industry for many years generally have well-educated clients, but the quality is mixed. Large-scale funds mainly care about licensing capabilities, channel stability, and fee rates. The level of internal competition is basically no different from running an exchange.

Instead of stubbornly competing internally, young teams should explore new avenues. It’s already very difficult for payment startups to establish any advantages in BD capabilities. Those that can excel in experience, branding, and marketing are truly few and far between. This principle also applies to other sectors.