[cadillion]

Man, looking at the comments it's crazy to me that hn's knowledge of a $3T industry hasn't evolved at all in 7 years. For those not in the know, Bridge, the stablecoin partner here, was just purchased by Stripe for $1.1B because they see future cost savings from using stablecoins for global remittances and forex.

https://fortune.com/crypto/2024/10/22/stripe-announces-1-1-b...

It's cool to have some skepticism, but update your beliefs. Scams and illicit transactions in crypto are actually smaller by proportion in all crypto than in USD or other fiat currencies at .3% last year.

https://www.chainalysis.com/blog/2024-crypto-crime-report-in...

This looks like just a secure enclave that you can deposit any crypto onto, so whether you trust the manufacturer of your smart card or credit card or not is up to you. Seems like there are easier ways to run a crypto scam, imo

[thereddevil]

A crypto security firm says that crypto is safer now and we are all supposed to believe it?

Also stablecoins like USDT which is supposed to be backed with USD but has never had an external auditor look at its books are somehow the solution here?

There is a reason crypto is looked at skeptically.

[cadillion]

Why would a crypto security firm be incentivized to tell people there is LESS crime? They want to sell MORE services for hunting down criminals. They are the de facto FBI enforcement arm. If you don't believe them, check the FBI's official numbers:

https://www.fbi.gov/contact-us/field-offices/philadelphia/ne...

Tether has public audited reports from BDO Italia S.p.A, the fifth largest independent firm globally, which are made available directly on their website.

https://tether.to/en/transparency/?tab=reports

You can keep your skepticism, but it helps to update your beliefs on new information.