[Analysis: Stablecoins and Self-Custody Drive the Rise of New Crypto Banks, Industry Shifts from Infrastructure to Payment Scenarios] According to CoinDesk, the crypto industry is transitioning from infrastructure development to 'new banking'-style application services, focusing on payments, lending, and stablecoins. Projects like Polygon and ether.fi are integrating on-chain self-custody features with traditional financial experiences, offering users banking-style products without requiring an understanding of underlying technologies. Messari points out that while this trend holds significant potential, current crypto cards and payment products suffer from severe homogenization. The industry generally believes that true user growth will stem from on-chain native, composable financial experiences.