I haven't read up on it. But I'm guessing it will likely be used between banks, their target customers. This could very well be the end of SWIFT, unless they're part of it. At this late stage, bank transfers would be the easiest way to pump the market cap of the stablecoin. Now, I'll go read up on it and see how far off I am.
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yeah that's kinda what i was thinking
I'm not clear what they mean by backing the stablecoin with XRP to prevent depegging. As long as redemption to fiat is always 1:1, it doesn't matter what the market price is.
yeah i'm going to have to look at the details more