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> A USD tethered coin offered by a major institution Do any banks want to hold 100% reserve accounts? What do they get out of it? Very few narrow banking offe
by wwtdtgotiatl 3y ago
> A USD tethered coin offered by a major institution
Do any banks want to hold 100% reserve accounts? What do they get out of it?
Very few narrow banking offerings available worldwide today.
- imtringued 3y agoYou can start an E-Money Institute in the EU and get a license to issue a stablecoin under MiCA. I looked at the laws and there is genuinely no way to earn money except from the difference between the interest payments you get on the custodial accounts (at a normal bank). The only exception is if the contract contains an explicit duration. Then you are allowed to charge a "reasonable" fee for trade ins to Euro. E-Money is not allowed to pay interest. It is basically irrelevant unless you want to do a radically different form of banking.