I have been positively surprised by Visa and Mastercard and how they have positioned in the stablecoin landscape. The expected move from incumbents of their size is to fight innovation via restrictive regulations but instead they have both endorsed the GENIUS Act and launched pilots merging the two worlds (like stablecoin-linked cards). My thesis is that Visa and Mastercard are not "evil" and they have an important role to play in the new payments stack. It will be different than the role they currently play but it will lead them to product experimentation, faster innovation and new business models. At the same time, Crypto has a lot to gain from them, first thing being an almost instant adoption from audiences that they don't (want to) know anything about blockchains.