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Why can they not just use America's banking infrastructure directly instead of using America's banking infrastructure indirectly through meaningless overenginee
by dartharva 1y ago
Why can they not just use America's banking infrastructure directly instead of using America's banking infrastructure indirectly through meaningless overengineered abstractions like stablecoins?
- joshtbradley 1y agoI am not an expert but I don’t believe most countries would allow their citizens to use American banking infrastructure, nor would most American banks accept a foreign account. Stablecoins get around these limitations, while also providing lower fees and higher availability.
- skybrian 1y agoHow do they open the bank account? Looks like a foreigner opening a bank account in the US would need proof that they have a US address. (Or at least, the major banks I checked did.)