What Happens to Correspondent Banking If Every Country Has Its Own Stablecoin?

What Happens to Correspondent Banking If Every Country Has Its Own Stablecoin?

For all the attention given to innovation in payments, one of the most important business problems remains stubbornly familiar. Companies still need to move money across borders, outside domestic banking hours, across time zones and between different currencies. These transactions continue to carry cost, delay and uncertainty, particularly when several institutions or less frequently traded currencies are involved.   Correspondent banking has lo…