2026-01-05 21:04:11

Today I bought airline tickets for the first time on the international version of Ctrip using USDT:

The payment interface automatically presents the Stablecoin option → generates an address for receiving payment → withdraw funds from the exchange or pay through the USDT / USDC chain → approximately 1 second for confirmation, and you can also scan a QR code for payment. The experience is almost the same as with a credit card, but the settlement occurs on the chain.

The feeling is very pleasant! After talking about “future payments” for many years, this is not an experimental scenario but real purchases such as airline tickets, hotel bookings — a true combination of “stablecoins + on-chain settlement level + regulatory compliance,” which I am already using.

So I started thinking: if Ethereum\SOLANA symbolize the future trend of online payments, isn’t their potential limited roughly to the level of Visa / Mastercard?

Compared to Visa’s market value, the price of $ETH is approximately $9,500.
But the problem is: the value of online payments does not equal the value that the chain itself can capture.

In stablecoins used for payments, the network revenue level is usually — “settlement fee.”
As Ethereum, L2, and other high-performance chains reduce transaction costs more and more, a real problem arises:
If the goal of the product is to make transactions as cheap as possible, what can it rely on to capture value?

Only on fees — this may be insufficient.
Especially when the cost of settlement becomes almost negligible, the “earn from transaction fees” path becomes less and less promising.

The real difference between chains probably boils down to the simplest questions:
Who do you trust? Where will you place your biggest money, longest contracts, most valuable assets?

Therefore, I believe the real question is not “whether ETH, SOL can match Visa,” but how much value in the world over the next ten years will be willing to leave for final settlements and on-chain assets?

Today, buying airline tickets with U, I am even more convinced: a breakthrough in crypto payments may not happen through some grand story, but the moment you start living with it automatically.

PAY — is the true path to mass adoption of blockchain.

ETH-0,5%

SOL3,07%

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Yukiyu

2026-01-05 15:36:58

Today I bought a plane ticket directly with USDT on Ctrip's overseas platform for the first time:

The payment interface automatically pops up with the Stablecoin option → generates a payment address → withdraw USDT / USDC from the exchange or pay on-chain → confirmation in about 1 second, or you can scan the QR code to pay directly. The experience is almost indistinguishable from using a credit card, but the settlement happens on the chain.

I feel very happy! After shouting about the “future of payments” for so many years, this is not just an experimental scenario but a real-world use case like buying a plane ticket or booking a hotel. It’s a tangible combination of “stablecoins + public chain settlement layer + compliant entry.”

So, I started thinking: if Ethereum\SOLANA represent the future trend of on-chain payments, then is their ceiling roughly comparable to Visa / Mastercard?

Roughly comparing to Visa’s market cap, the corresponding $ETH price is about $9,500.
But the problem is: the value captured by on-chain payments does not equal the value the chain itself can capture.

In stablecoin payments, the public chain often only earns “settlement fees.”
And as Ethereum, L2, and other high-performance chains push settlement costs lower and lower, a real issue arises:
If the chain’s product goal is to make settlement as cheap as possible, what ultimately allows it to capture value?

Relying solely on fees may not be enough.
Especially when settlement costs become negligible, the path to “getting rich from transit fees” will become increasingly thin.

What truly differentiates chains from each other may ultimately come down to the most fundamental question:
Who do you trust? Where will you place your largest funds, longest contracts, and heaviest assets?

Therefore, I believe the real question is not “Can ETH, SOL be compared to Visa,” but rather, in the next ten years, how much value globally will be willing to settle and deposit assets on-chain?

Today, with the simple act of using U to buy a plane ticket, I am even more convinced that the turning point for crypto payments may not be some grand narrative, but the moment when you unconsciously start “living with it.”

PAY truly is the way for blockchain to go mainstream.

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