[zachrosen23]

Fully backed stablecoins are redeemable from their issuer 1:1, regardless of what they're trading at on secondary markets

[pffft8888]

But Binance just stopped all USD withdrwals. Circle is the only other issuer and requires you being licensed in every state as an MSB, plus compliance. And the fact that there is nothing to it tecnologically speaking. The whole moat is in having regulatory approval.

[pcthrowaway]

I don't believe they stopped USDC withdrawals, just actual USD

[pffft8888]

I meant to do a wire in the US you need to get USD out.