The Path to Seamless Blockchain-Based Retail Payments: The Role of Interoperability — Stablecoin Standard

The article explores the advancement of stablecoins as regulatory environments improve, driving blockchain-based retail payment possibilities. This progress hinges on achieving interoperability between blockchain ecosystems and existing payment infrastructures. The Stellar blockchain is highlighted for its speed, cost efficiency, and features like anchors for asset issuance and a built-in decentralized exchange, all of which enable efficient retail payments. Stellar’s compliance with standards like ISO 20022 and partnerships with companies such as MoneyGram point to its role in bridging blockchain and traditional payment networks. While Stellar provides practical solutions, achieving effortless blockchain-based retail transactions requires broader interoperability among blockchains and alignment with existing retail systems. The blog further underscores the need for decentralized approaches to interoperability, using Axelar’s network as a model to avoid centralized system vulnerabilities.