Early in US history, we had 13 colonies with 13 different currencies.
We will soon have 13,000 options of USD denominated stablecoins. The fragmentation of stablecoins // stablecoin chains // layer 1 chains // layer 2 chains is going to be insane.
The largest crypto off-ramp for USD in the US is still $USDC on Coinbase
By the time you swap your $xyzUSD and bridge it to a $USDC supported chain for deposits on Coinbase, you’re going to lose a few % on fees.
How does this solve fragmentation? The more chains and the more stablecoins, the more fragmentation.
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