I think USDC is making their move to introduce CBDC into the market.

The problem with the US is that if you operate a money transmitter business in the US , you need to have a Bond for each individual state which starts at like 1M USD+. Other states have varying rates for their bond but it operates as an insurance for sending money.

Now Banking licenses are also hard to acquire but USDC (Circle) has purchased their own Bank and they are acquiring their own Banking licenses.

My theory is that with that , they can turn fiat -> USDC direct for their users.

The SPAC they held for the acquisition of the bank itself would allow them to become the bank. I think this is the one thing that was missing in the US regarding crypto. Coinbase couldn't do this but Circle i believe has been able to succeed and i think they will be catalyst to the CBDCs.

So the question is... Are you ready and prepared for the CBDCs?

What do you think this will do to the crypto market with USDC becoming the standard?

Tether? Any other stablecoins?

https://www.pymnts.com/cryptocurrency/2022/circle-getting-closer-to-applying-for-digital-bank-license/