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On international remittances: Every year, people send $600B+ in international remittances; or money sent from once country to another, either by an individual, business, or government. Remittances operate in an outdated way. A roughly 6% fee. Can stablecoins move the needle forward? 👇🏼
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Infrastructure Inversion: For workers sending money home, like those sending money internationally from the United States to their family in Argentina, the allure lies within bypassing traditional fees for nearly direct transfers. Individual Level: Many Perks Federal Level: Much Fear Why?
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The 6% is chopped up by many different parties which check for numerous regulations, anti-terrorism checks, and more. I see a world where regulation forces Circle to get more involved with this as USDC grows and people notice how much friction they can circumnavigate. But how far do they go? Any thoughts?
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