I'm not sure capitulation is the word. Banks noticed deposits leaving through a door they didn't control. So what they build will look like a stablecoin and behave like a deposit product with a compliance department bolted on, which is probably fine, just not the thing anyone was excited about.
Hey Carlo! Thanks for being on the leading edge of this, early and often!
I'm not sure capitulation is the word. Banks noticed deposits leaving through a door they didn't control. So what they build will look like a stablecoin and behave like a deposit product with a compliance department bolted on, which is probably fine, just not the thing anyone was excited about.