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Eric Barbier
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CEO at Triple-A, stablecoin payments licensed in the US, Europe and Singapore
724 Following 790 Followers 532 Posts
Latest posts 5
In some countries, people pay more than the official rate to get USDT or USDC. That premium shows what their local currency is really worth.
The official rate is usually set by the central bank, and local banks have to use it. On digital asset exchanges, the price is whatever a buyer and a seller agree on, 24/7.
The parallel market existed long before stablecoins. It used to be cash and word of mouth. Now it's online, in real time, and anyone can see it.
That makes an official rate much harder to defend. In Nigeria and South Africa, stablecoin flows put real pressure on the official rate, and the two have moved much closer together.
The official rate is usually set by the central bank, and local banks have to use it. On digital asset exchanges, the price is whatever a buyer and a seller agree on, 24/7.
The parallel market existed long before stablecoins. It used to be cash and word of mouth. Now it's online, in real time, and anyone can see it.
That makes an official rate much harder to defend. In Nigeria and South Africa, stablecoin flows put real pressure on the official rate, and the two have moved much closer together.
If China ever wants to compete with the dollar, a yuan stablecoin would be a powerful way to do it.
China is the largest trading partner for many countries. A yuan stablecoin would let companies pay their Chinese partners without going through the dollar.
But I don't think Beijing wants it. A stablecoin means money can leave the country without going through Chinese banks, and China's financial system is built on capital controls.
China is the largest trading partner for many countries. A yuan stablecoin would let companies pay their Chinese partners without going through the dollar.
But I don't think Beijing wants it. A stablecoin means money can leave the country without going through Chinese banks, and China's financial system is built on capital controls.
Love the WAP analogy
There is no Fedwire for the internet.View quoted post on X
Tempo, incubated by Stripe, is trying to build it.
I spoke with @sytaylor from @tempo about why on-chain cash settlement is still less than 0.1% done, and why the next stablecoin volume may come from enterprise money movers rather than crypto-native apps.
We also get into agentic commerce, x402, why consumer agents are still in the WAP-phone era, and where real B2B payment volume is showing up first.
Back in the early 2000s, Mobile365 was looking to expand in Asia, and our investors were pushing us to move fast through M&A. Together with my co-founders, we made the mistake of listening too closely.
We spent millions acquiring a company that held an ICP license to operate in China. But six months later, the Chinese government changed the rules and banned foreign companies from holding that license.
Overnight, our investment was wiped out. We lost a lot of money and had to raise a down round, which led to significant dilution.
Since then, I have always kept this in mind: don’t blindly follow your investors, don’t confuse pressure with urgency, and be careful because markets can shift quickly.
We spent millions acquiring a company that held an ICP license to operate in China. But six months later, the Chinese government changed the rules and banned foreign companies from holding that license.
Overnight, our investment was wiped out. We lost a lot of money and had to raise a down round, which led to significant dilution.
Since then, I have always kept this in mind: don’t blindly follow your investors, don’t confuse pressure with urgency, and be careful because markets can shift quickly.