Stablecoins offer Venmo fee relief for US freelancers

Dan Romero, co-founder of Farcaster, suggests stablecoin payments as a viable alternative for United States freelancers affected by Venmo's fee increase.

With PayPal-owned Venmo implementing higher transaction fees, Romero proposes stablecoins as a lifeline for workers subject to IRS Form 1099, including freelancers and independent contractors.

Financial analyst Ross Hendricks highlights Venmo's fee hike as a monetisation strategy, prompting discussions about cryptocurrency solutions.

While concerns about the accessibility and cost-effectiveness of crypto transfers persist, Brian Armstrong, CEO of Coinbase, sees potential in USD Coin (USDC) for seamless, fee-free transactions.

Amid regulatory shifts, including the relisting of XRP (CRYPTO:XRP) on Coinbase following a court ruling, the conversation underscores the growing role of stablecoins in reshaping payment ecosystems.