yeah, the only digital-dollar to bank-dollar stablecoins I know of at scale are USDT and USDC. And they have a mess of inteop issues due to all the competing L1s they issue them on.

I’m not sure how to do stablecoins outside of having someone hold bank dollars and issue digital dollars — esp if you need to use those dollars in the tradfi system at any point. I wouldn’t use them, but there is massive global appetite. So I think Shehzan is suggesting keep the bank<->digital dollar issuers away from bitcoin, because ultimately they’re captured

I’m not sure if owning some sort of synthetic dollar has a credible use-case/sovereign technology solution yet.