DeFi

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Remittances operate in an outdated way.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? 👇🏼

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?

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?

exploring the matrix onchain 🌀 | ops wizard 🪄 | hosting /defi • /the-glyph • /pixelglyphs • /autism


Tron was one of the biggest surprises when I was down in Argentina. 

Definitely made me notice my echo chamber. Excited to watch this evolve

in 3rd world countries, lot of this happens with USDT over tron using binance.

receiver then cashes out OTC locally.

Do you think off ramping fees are temporary until acceptance for the transferred asset is accepted at scale? 

6% feels absurd.

The 6% goes to intermediaries and off-ramping. We can reduce the intermediary fee but the off ramping (which is a significant part) does not go away.