SoK: Stablecoins in Retail Payments

Battle Count: 50

This paper is fundamentally about retail payment infrastructure comparison and has minimal direct relevance to quantitative trading. It does not address trading strategies, market microstructure, price prediction, or portfolio optimization. The only tangential connection is the discussion of stablecoin market capitalization ($300B+) and transaction volumes ($8.9T in H1 2025), which could inform crypto market liquidity assessments. The paper's focus on payment rails, consumer protection, and settlement finality is orthogonal to trading applications.

This is a purely analytical and conceptual paper (SoK) that does not propose any implementable system, algorithm, or model. The CLEAR framework is a qualitative evaluation lens, not a computational tool. There is no code, no model to train, and no system to deploy. The 'implementation' would involve applying the framework to new payment system comparisons, which is an analytical rather than technical exercise.

As a Systematization of Knowledge paper, it synthesizes existing literature and evidence rather than presenting reproducible computational experiments. The CLEAR framework is qualitative and relies on heterogeneous evidence from multiple sources. No code, datasets, or quantitative experiments are provided. The analytical conclusions depend on interpretation of existing literature and industry data.