Blockchain settles a USDC transfer perfectly. The second that USDC needs to arrive as Mexican pesos, the old correspondent banking problem stands as is. "Say I have USDC, and I send USDC to you. That's perfect. That's an atomic transaction. There's no back-end rebalancing that needs to happen." "You have to reinsert the tied-up capital problem because someone needs to lock in the price." DeFi tried to solve this with automated market makers. "They could never work for very deep markets like the FX markets because you would have to replicate the correspondent banking or the nostro/vostro problem onchain." That constraint is what @OfficialXFX was built to solve. "How can we process the maximum amount of volume with the minimum amount of capital in the system? That's the whole thesis." shares @SantiAlvarado_