Dan Romero
@dwr.eth
Type of financial entity that should exist: - Consumers and businesses can easily sign up - Federally regulated - Only function is to custody USD - No fractional reserve - Ability to opt-in to yield via US Treasuries - Revenue model: cut of Treasury yield or $9.99/m subscription
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Fastackl.eth
@fast
Who is going to bag hold all the HTM assets on bank’s balance sheets though when depositors flee to the new 1:1 backed provider. And then where will credit come from 😱😅
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Dan Romero
@dwr.eth
Most people won’t switch right away.
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Fastackl.eth
@fast
Yes - to be clear I was being facetious. The product you outline makes WAY more sense than creating dodgy stablecoins (aka bank deposits) backed 90% by illiquid HTM assets. But bc it makes so much more sense, the idea probably would be shut down faster than Libra 😅
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