Quote:
Originally Posted by CoachKandSportsguy
Stable coins are just lousy bank accounts…
“he thinks most USD-backed stablecoins are really just deposit accounts on which the depositor is paid no interest nor other consideration, but whose sponsor is able to generate net interest income by investing the deposited assets (typically in highly liquid and very short-duration assets), just like a typical checking account, but without FDIC insurance.”
-Morgan Stanley Research
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Not "lousy" if you are residing/banking outside the USA in a third-world dump where the criminal government just steals all your money via taxes and inflation and "bank holidays"/devaluation. People in Argentina/Venezuela/Europe/Africa and almost everywhere else would love a "lousy" USA Stablecoin. All fiat currencies are heading to zero value by their very nature. The USD value collapse is *FAR* slower than every other currency.