And if stablecoins are a distribution business, then a new player might be trying to corner the market. Samsung last month gave stablecoins something the cryptocurrency industry has spent years trying to build: a direct route to over 80 million consumers.

More news broke Thursday (Nov. 5), however, about the number of involved companies standing between the customer and the money in the new digital-dollar wallet may be how many companies stand between the customer and the money inside Samsung Wallet’s new Stablecoin Account. Samsung controls the interface. Stripe handles stablecoin purchases. Coinbase provides…