Why We Need On-chain Liquidity to Support Non-USD Rails, NOT APIs

> The piece argues stablecoin FX platforms are just API wrappers over legacy OTC systems that can't reduce costs for emerging markets due to inherited centralized infrastructure and regulatory burdens.

> True cost reduction requires on-chain decentralized liquidity that unbundles risk-bearing capital from expensive banking infrastructure and enables direct non-USD trading pairs to serve emerging markets efficiently.

Source: https://x.com/defi_cheetah/status...
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