PayPal and the credit card industry are taking advantage of consumers

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Opinion: Financial service companies have been fleecing consumers with fees. Consumers should start using stablecoins as an alternative.

More Americans are unable to pay their credit card bills in full at the end of the month, with 46% of credit cardholders carrying month-to-month debt, up from 39% in 2022. A recentfrom the Federal Reserve Bank of New York highlighted how the current 15% year-to-year credit card balance increase represents the largest jump in more than 20 years.

consumers, not just those choosing to pay by credit card — which essentially means that anyone paying by cash or debit card is forced to pay a higher price for the convenience of a select few. Why, in today’s world, should anyone be forced to use a centralized service that is specifically designed to take such a big cut of their every purchase?

The solution may be found in stablecoins themselves or in the mix between traditional financial structures and theBank collapses are spurring interest in self-custody startups

 

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