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A comment on Report on Stablecoins [pdf]. Parent comment
"Spot foreign exchange transactions usually settle two business days after the execution date"
https://www.investopedia.com/terms/s/settlementdate.asp#:~:t....
Real-time gross settlement is the instant way of transferring money between banks. Try and send $100K to someone and getting it done same day. Most people don't have access to that system. https://en.wikipedia.org/wiki/Real-time_gross_settlement
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"Spot foreign exchange transactions usually settle two business days after the execution date"
https://www.investopedia.com/terms/s/settlementdate.asp#:~:t....
Real-time gross settlement is the instant way of transferring money between banks. Try and send $100K to someone and getting it done same day. Most people don't have access to that system. https://en.wikipedia.org/wiki/Real-time_gross_settlement