A privately run ledger denominated in US dollars and backed by US treasuries…the central ledger owner keeps the interest and guarantees redeem-ability of the site k 1:1 for US bank dollars and users get to use the digital tokenized dollars without interest. They’re earning the interest on $160B with this company.

Eventually someone will come up with a treasury token redeemable for treasury debt immediately or dollars with delay of 1 week, month, year, etc