Why and how is it that people in countries with unstable currency are somehow providing profit to you?
Afaik most of the revenue for stablecoin issuers comes from investing the dollars backing the stablecoins mostly in things like treasuries (“cash-equivalent assets”) and pocketing the interest. They don’t provide all of those dollars to begin with, rather people give it to them in exchange for stablecoins, and they accumulate a lot. Actual users of stablecoins don’t pay fees to the issuers. Not sure if issuing stablecoins is the actual business this person is involved in though, that statement is vague and it could be something else.
An interesting fact is that even if stablecoin issuers wanted to give some of that interest back to users instead of keeping it all themselves, the US government has been recently taking steps to make that illegal.
Afaik most of the revenue for stablecoin issuers comes from investing the dollars backing the stablecoins mostly in things like treasuries (“cash-equivalent assets”) and pocketing the interest. They don’t provide all of those dollars to begin with, rather people give it to them in exchange for stablecoins, and they accumulate a lot. Actual users of stablecoins don’t pay fees to the issuers. Not sure if issuing stablecoins is the actual business this person is involved in though, that statement is vague and it could be something else.
An interesting fact is that even if stablecoin issuers wanted to give some of that interest back to users instead of keeping it all themselves, the US government has been recently taking steps to make that illegal.