Parent's point is weak - it's not possible right now for people around the world to hold fiat/stocks in their own centralized, custodial wallets due to stringen

Parent's point is weak - it's not possible right now for people around the world to hold fiat/stocks in their own centralized, custodial wallets due to stringent KYC/AML, and blockchains currently fill that need for stablecoins, and will fill that need for tokenized stocks, treasuries, etc.