[Shasnani]

So the entire premise is that you really can't just 'buy dollars' in the majority. of these countries, hence the need for stablecoins.

And I don't think I would characterize this as a high-risk currency; it's essentially a digital receipt for a dollar, backed by US treasuries (https://www.circle.com/transparency).

[davidlee1435]

adding onto this, i as a citizen of <high inflation country> who buys dollars from the national bank are probably holding digital dollar receipt anyways, since most foreign dollar holdings are held in nostro accounts at US correspondent banks.

if you trust your banking system to be a better custodian of your money than Circle, you're one of the lucky ones. billions of people in the world don't have that kind of luxury (see: https://www.bbc.com/news/world-asia-68778636), hence a part of the reason why stablecoins have grown to a little under a quarter trillion

[aorloff]

So the app essentially offers anyone in an emerging market the "regional exchange rate" you can find for their currency ?

If I have a wad of tea shillings, how do I use this app to hold stablecoins ?