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So it's meant to bypass the slowness of ACH and other aspects of the traditional banking system that the USD is limited by? Interesting.

Also, a lot of banks wouldn't work with crypto companies to provide them liquidity. So, stablecoins came in and said: "we'll be your liquidity!"

It only works if the stablecoins can get you your USD back at the end of the day though, which is what's being tested right now.