The Interchange: Plaid-Visa antitrust concerns highlight the value of stablecoins built on open public infrastructure

Currently, transactions made through the Swedish bank-owned mobile payment service Swish must go through bank-owned systems instant payments are settled through a bank-owned system called Bankgirot (BG), while credit transfers/money orders and checks are processed by Datacearingen (DCL – owned by Swedish Banker’s Association).

Should the e-Krona be built upon distributed ledger technology, and the Riksbank offers an open API at the wholesale level, new payment service providers could enter this system and offer services that wouldn’t rely on the current legacy settlement infrastructure and incumbent banks.