Thread

European payments groups join forces to challenge US dominance

63 points · 92 comments · vrganj

rattlesnakedave · 1790944077 · focus · HN ↗
[dead]
1. hvb2 · 1790944204 · focus · HN ↗
  Why do you need a stablecoin if you can send the currency itself directly? If I have euros and the recipient wants euros, why would I need a stablecoin?
  Solution looking for a problem?
  1. Lio · 1790944537 · focus · HN ↗
    Not only is it a solution looking for a problem but it also opens up exchange fees and chance to be more easily robbed by North Korean government backed hackers looking to evade sanctions.
    <a href="https://www.euronews.com/2026/09/28/north-korean-hackers-suspected-in-3328m-crypto-heist-as-it-leads-global-hacks" rel="nofollow">https://www.euronews.com/2026/09/28/north-korean-hackers-sus...
    iso1631 · 1790945595 · focus · HN ↗
    Or just someone with a $5 wrench
    <a href="https://www.bbc.co.uk/news/articles/c6eq84eygz0qo" rel="nofollow">https://www.bbc.co.uk/news/articles/c6eq84eygz0qo
    rattlesnakedave · 1790960371 · focus · HN ↗
    You have such a poor understanding of the subject, you don’t know what I’m proposing
  2. M95D · 1790944729 · focus · HN ↗
    Anonimity, at least until someone figures out who owns the wallet.
  3. rattlesnakedave · 1790960318 · focus · HN ↗
    This is a child’s understanding of international remittances
    hvb2 · 1790962639 · focus · HN ↗
    Care to elaborate?
    In Europe I can literally type someone's IBAN and hit send, if arrives in seconds. So not sure what I need a stablecoin for.
    rattlesnakedave · 1790963329 · focus · HN ↗
    [dead]
2. soco · 1790944730 · focus · HN ↗
  I need international payments maybe once a month. Sample size of one.
  1. M95D · 1790946307 · focus · HN ↗
    It's not for you. It's for companies. They're implementing it first for person-to-person transactions just to test the system. Wouldn't want a big corp to lose millions of euro because of a bug!
3. KellyCriterion · 1790949109 · focus · HN ↗
  Some years ago I had to execute an international money transfer by SWIFT to someone in South America from our European bank:
  Unfortunately, I did a copy & paste error by reusing the prior version and not overwriting all the data - I forgot to replace the bank account number, but name & co was OK.
  The money didnt arrive, customer was getting angrier and angrier. Esp. since this transaction was related to crypto and back then was one of first BTC highflyertimes.
  A couple of days later I received a message from the bank, asking for having a quick call. In the meantime, they had called the customer to investigate even more.
  Quickly we found out that it was just my mistake by copying & re-using the form. I sent them a SWIFT message confirming what was discussed and that the right account number is indeed 123 instead of 678.
  In the end, all of us were happy, even with a little delay.
  Im 100% sure that this type of cooperation would never work on any of these crypto stacks :-))
  1. rattlesnakedave · 1790960498 · focus · HN ↗
    You have such a simplistic read on the situation, and are so far behind on the space I’m not sure an explanation of what I’m proposing is possible.

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