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50 sats \ 1 reply \ @Undisciplined 15h \ parent \ on: The truth behind "stable" coins econ
I was assuming fractional reserve banking would occur on top of stable coins. There’s still no reserve requirement for banks, so why would they constrain their lending to the stable coins in reserve?
Being a member bank of the FED enables you to create bank ledger money which is IOUs for the physical FED notes.
It does not give you the power to create bank ledger versions of stablecoins.
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