NON-USD STABLECOINS ARE ONE OF THE MOST UNDERRATED SEGMENTS

Summary from the TLDR Crypto newsletter

A key neobank use is avoiding FX fees, since paying in another currency often costs over 1%, and local stablecoins with multi-currency settlement can remove that. The main problem is fragmentation, with many issuers per currency, such as six for the real, three for the yen, and three for the Swiss franc, plus several for EURC-type euro coins. Questions remain around how many guarantee 1:1 backing or can be verified in real time, and the industry may benefit from less issuer competition.