Pre stablecoins you had to off-ramp to the local currency. Sourcing liquidity to provide near instant cash out has been the biggest cost for remittance operators like WU Post stablecoins users can receive dollars, save in dollars and spend in local currency without having to off ramp. Alleviating the liquidity piece to some extent Not everyone will be able to do this as efficiently. You have FX and credit risk as well as potential liquidity crunches if you miscalculate user behavior - spending vs saving patterns. The key will be managing liquidity by having a very precise and real time understanding of user behavior - are they saving or wanting to cash out. I think issuing credit against a balance on a digital wallet becomes the lynchpin to drive the right type of user behavior - incentivizing users to stay digital and not go to cash. Remember these are cash heavy economies so it’s not a walk in the park to convince them to migrate to digital for a variety of factors. Convenience, acceptance of digital money and cards, and taxes But what do I know. It’s not like we’re surveying hundreds of users in LatAm 👀