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FX is the product with the greatest asymmetric gains in crypto right now.
Stablecoin market is ~$300bn but 99% is denominated in USD.
~50% of global payments are in non-USD currencies (EUR, GBP, MXN, BRL, etc.)
The PMF is proven, but the TAM is untapped.
Several companies are launching non-USD stables (many with regulatory moats and highly-sought after EMI licenses).
Bet on the companies tokenizing these currencies and the infra (like Tempo or Circle) that enables them.