Cash keeps disappearing

Digital networks will handle more everyday payments.

By AKA Studio

What’s inside

• V Visa: Core toll road on cash-to-digital conversion; stablecoin settlement now a $20bn run rate
• MA Mastercard: CEO Miebach backing stablecoins to fix slow cross-border payments while defending card volume
• PYPL PayPal: Pure wallet exposure to everyday online and in-store digital spend
• XYZ Block, Inc.: Cash App plus seller terminals digitise small-merchant and peer-to-peer cash flows
• COIN Coinbase: CEO sees stablecoin payments as a major revenue growth engine; Base hosts the OUSD coin
• SHOP Shopify: Named as a backer of the OUSD stablecoin; monetises each digital checkout it processes
• SE Sea: SeaMoney digitises everyday Southeast Asian spending alongside its commerce platform
• MELI MercadoLibre: Mercado Pago turns Latin American cash habits into recurring digital payment volume
• NU Nu Holdings Ltd.: Digital-only bank converting unbanked Brazilian cash users to card and app payments
• JPM JPMorgan Chase: Largest card issuer and a bank moving to claim stablecoin and tokenised rails
• COF Capital One: Card issuing economics grow directly with digital rather than cash spending

Why it could work

Digital networks will handle more everyday payments. The basket combines direct participants and broader suppliers.

What could break it

Adoption could disappoint, competition could weaken margins, or high valuations could already price in the trend. Some holdings are broad, indirect proxies.

For learning only. Not investment advice.