[MinorTom]

Interacting between the crypto space and the U.S. financial system is hard. USDC does it by being a well-regulated in the U.S. and internationally financial institution, but that's certainly not easy.

Just one example (from [1]):

> At the time, Bitfinex (theoretically a Hong Kong entity but whose location, like a Bond villain, changes moment-to-moment to fit the needs of the scene) was banking in Taiwan at Hwaitai Commercial Bank, KGI Bank, First Commercial Bank, and Taishin Bank.

> Taiwanese banks do not have direct access to the U.S. financial system; they engage via correspondent banking relationships. These banks corresponded through Wells Fargo. Wells, in the wake of publicity about the Bitfinex hack, told the banks they would no longer clear USD wires to or from Bitfinex.

[1] https://www.kalzumeus.com/2019/10/28/tether-and-bitfinex/