Is Onchain FX the Answer to USD vs Non-USD Stablecoin Debate?

Is the future of stablecoins denominated in USD, or is there a massive unlock waiting for the Euro and Swiss Franc? In this episode, we dive deep into the plumbing of the global financial system to argue that the real opportunity isn't retail payments—it's the $80+ trillion Foreign Exchange (FX) market.

We discuss why the current crypto market is a "drop in the bucket" compared to institutional dollar funding and analyze the terrifying fragility of the FX swap market.

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This podcast breaks down the evolving world of stablecoins, tokenization, and monetary infrastructure—with real-world logic, no hype.

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X: https://x.com/romeo_fardeen
TG: @Romeowriter

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0:00 Intro
0:26 – Comparing FX market size to crypto
1:22 – Spot trading vs. institutional swaps
2:25 – Settlement risk outside the CLS system
5:22 – Infrastructure requirements for onchain FX
6:40 – Trading volume data: Swaps vs. Spot
7:34 – How institutions use FX swaps
11:10 – How CLS settlement works
13:11 – Issues with emerging market currencies
15:10 – Three pillars of onchain FX architecture
17:30 – Existing protocols
18:36 – Realistic adoption timeline