They want to control payment rails. FedNow is live (offered by the federal reserve) and can move up to $1M with a 20 second SLA for ~5 cents. Walmart is implementing it for “pay by bank” to avoid ~$1B/year in interchange fees.
Stablecoins are useful when your use case calls for avoiding traditional, sanctioned financial infra, including the ability to move value between counterparties who may not be given access to traditional financial systems.
Stablecoins are useful when your use case calls for avoiding traditional, sanctioned financial infra, including the ability to move value between counterparties who may not be given access to traditional financial systems.
https://www.frbservices.org/financial-services/fednow
https://news.ycombinator.com/item?id=36801491