[smoovb]

You may have heard of a country called Myanmar? Population of 54 million?

You might be surprised to learn that a citizen from Myanmar does not have access to a local bank offering USD accounts, nor do they get offers in the mail from Amex or Citibank. Their sole USD option may be holding cash under their mattress.

With a USD stablecoin, this citizen is no longer subject arbitrary exchange rates, expensive banks and risky currency storage. They can save money independently of any government or financial institution.

[shkkmo]

I have been wondering who the holders of Tether are, I really hope you are wrong. If people really are confusing the stability guarantees of the USD with a scammy cryptocurrency token like Tether, then it makes Tether lies all the more morally irresponsible.

[jeffrwells]

No need to be rude smoovb, I was genuinely curious

[smoovb]

You asked for layman's terms, not meant to be rude. ;-)