$314B in onchain dollar float turns card networks into distribution and dispute-resolution layers, not obsolete toll booths. Visa already tested USDC settlement with Worldpay/Nuvei on Solana; the consumer can still tap Apple Pay while the acquirer/issuer treasury leg moves 24/7 instead of waiting on banking hours. The squeeze hits correspondent banks, FX desks and remittance spreads first, while Visa/Mastercard keep monetizing KYC, fraud, chargebacks and merchant acceptance.

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