Farcaster

Why are there no other currency stablecoins?

Actual question. Do any of you believe we will see these pop up in the future. 

Like a MXNC (Mexican pesos)

{Permanently on chain}; @purple #83 Eth Maximalist

building /quidli 🦑, casting in /justinahn, daoing in /🍊 & /🟪

Would usdc/usdt take over currencies in global south countries you think? The use case for cross border payments is non existent when receivers have to off-ramp usdc into their fiat currency. But what if we had seamless stablecoins and therefore won’t need to rely on these off-ramps. Say we move usdc to mxnc and then pay for coffee in CDMX. If that makes sense lol

fwiw, there are non usd stablecoins that aren't cbdc out there

examples off top of my head: celo has brazilian real CREAL, and there are several euro attempts as well, most notably EURC, EURe and EURS

i think the challenge is twofold: 1. Is there enough of a demand to launch one, and then 2. how to ensure liquidity once the token is in circulation, which are difficult for fiat currencies that are less in global demand