That sounds accurate. Both are second-layer monies, over Treasury Notes and BTC, respectively.

But there's no final settlement with cash, is there? There's no direct connection between Treasuries and cash. 🤔

nostr:nevent1qqs0h8n7yzzjp8a7l2nkkdsrqw7d8lc8gffqd69d0z9yq8z04kp9zwgpp4mhxue69uhkummn9ekx7mqzyruwd3jrgtc7q5jgqccwylsszmwwxh7r5c2wvpp5lm625fgrx2x2jqcyqqqqqqgrelz8m