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Fully backed stablecoins are redeemable from their issuer 1:1, regardless of what they're trading at on secondary markets
by zachrosen23 4y ago
Fully backed stablecoins are redeemable from their issuer 1:1, regardless of what they're trading at on secondary markets
- pffft8888 4y agoBut Binance just stopped all USD withdrwals. Circle is the only other issuer and requires you being licensed in every state as an MSB, plus compliance. And the fact that there is nothing to it tecnologically speaking. The whole moat is in having regulatory approval.
- pcthrowaway 4y agoI don't believe they stopped USDC withdrawals, just actual USD
- pffft8888 4y agoI meant to do a wire in the US you need to get USD out.