Why are you sending US Dollars between yourselves as Canadians? You can’t spend them in Canada, why not use a free and instant Interac e-Transfer? If you want to hold USD (as a hedge against CAD) open a US Dollar denominated account at any major Canadian bank but that’s an investment not a store of value. Or open an interactive brokers account if you want to trade currencies. And if you want to move money to another country where they also can’t spend USDC Funbux without cashing them out just use TransferWise or whatever compareremit.com recommends, it’s really cheap and easy these days. No need to find an exchange that’ll sell you funbux and let your recipient cash them out. This is just useless.

This is not solving a problem that isn’t otherwise solved except money laundering and skirting AML/KYC rules. Look I may well be wrong, but can you suggest a use case I haven’t considered?

>Why are you sending US Dollars between yourselves as Canadians? You can’t spend them in Canada, why not use a free and instant Interac e-Transfer?

Sorry I didn't see your message until 10 days later. Did you know that the internet is worldwide? I do use an e-Transfer to transfer cash in Canada but more than likely, a transfer on the web will need to be done internationally. A stablecoin is a way to make sure the value is secured, at least as much as what it's backed on and the company holding it, for the duration of the transaction.

Any Canadian Exchange (and not a specific provider) could hold that stablecoin and many people will do arbitrage over it which will make sure I will be able to buy it easily for a minimum of fee.

That's specifically for me as a Canadian in a first world country too. A stablecoin allow that in ANY country, no need to do a case by case.

I don't have an informed opinion on this whole stablecoin thing, but...

There isn't a single country in the world today where you can't spend a US dollar. Canadians will happily take them, especially at a 1:1 exchange rate.

At a discount maybe, and only along the border, try showing up in the north and waving around some USD. That’s a pretty naïve attitude, to think you can show up anywhere and demand they accept your USD at face value. I think this all further proves my point.

Just FYI 1:1 exchange rate is a 25% discount.

Having spent some time in YT, I've found Canadians to be extremely agreeable. If you opened your wallet in a shop in Dawson City and said "Drat, I only have USD. Can you work with me?" I can pretty much guarantee they'll take your money - perhaps at a small discount to compensate them for the trouble.

I've traveled pretty far and wide. You really have to look hard (or piss someone off) before they'll reject USD. It spends easily.

> There isn't a single country in the world today where you can't spend a US dollar.

The strongest argument I think I can construe from your statement is that every country has at least one place where you can spend a US dollar but I don't think that's very useful.

If you bring a 20 USD bill to Europe, head to the center of a major city and try to spend it, I think you'll have a pretty hard time handing it to a shopkeeper. You'll have trouble spending it at all save for exchanging it for the local currency and handing that to a shopkeeper.

> This is not solving a problem that isn’t otherwise solved except money laundering and skirting AML/KYC rules. Look I may well be wrong, but can you suggest a use case I haven’t considered?

I could see a decent amount of usage for dApp developers or anyone who wants micro transactions on their platform. That being said, “stablecoin” is probably quite useless outside of that very narrow use case.

People don’t really want micropayments as it turns out because people get decision fatigue. It’s why Netflix feels good and the iTunes Store video rentals don’t. The latter may have saved you money but you don’t want to keep deciding on whether something’s worth it.

> People don’t really want micropayments as it turns out because people get decision fatigue.

Fair point. What I’m really interested in seeing is if they can maintain their peg.