This will exist:
Lightning BTC ⚡️ -> Ecash USD 🪙 -> Lightning BTC ⚡️
Discussion
Similar things have existed in past and got shutdown by US government agencies. What makes it different this time?
What if they can't shut it down?
It's not connected to the fiat system.
Something like stablesats maybe.
Stablesats uses exchanges and it is connected to fiat system because you are trying to create synthetic USD (fiat).
Its not difficult to shutdown custodial setup with lot of users, volume etc. that do not follow regulations. It is irresponsible to hide the risks involved because this can ruin careers for lot of young developers, users etc. who just might want to experiment with it.
inevitable..! already happening
Makes too much sense not to
Makes me thing of this clip where Aqua presents its solution for the Global Shouth. These people would be better off trusting a mint operator near them and having their Cashu wallet loaded with some Ecash USD tokens for a spending account (while loading their hypothetical non custodial wallet for a saving account) rather than trusting the custodial nightmare that is Liquid Tether.
Good timing on this. I just enabled 'usd' on https://mint.current.fyi to play with it. Right now it is integrated to strike but utlimate aim is to enable minting ECash USD and using it on lightning nework for payments. 