> I fail to understand how this use of stable coins is better than licensed currency transfer companies.
It's not better—if you have access to licensed currency transfer companies. But 220 million people from Russia and Iran don't nowadays, and likely from many other "third world" countries where people still want to do honest work, buys stuff, pay salaries, feed their kids, etc. Hundreds of millions of people all over the world can't just walk in and open a low-fee bank account, they just instantly get rejected.
Previously I thought that "think of the unbanked" was a rather silly excuse, until this year it happened to me and my business.
It's not better—if you have access to licensed currency transfer companies. But 220 million people from Russia and Iran don't nowadays, and likely from many other "third world" countries where people still want to do honest work, buys stuff, pay salaries, feed their kids, etc. Hundreds of millions of people all over the world can't just walk in and open a low-fee bank account, they just instantly get rejected.
Previously I thought that "think of the unbanked" was a rather silly excuse, until this year it happened to me and my business.