Have been thinking about FX lately, and it seems to be a huge opportunity in stablecoins, which no one has solved yet (at scale). Here is the problem statement:
If you're a bank in the UK or the EU, how exactly do you onramp to USD-denominated stablecoins?
A TradFi path is: open a nostro account with a US FI (if you can). Send GPB/EUR to your FX broker, in two days, get USD to your nostro account. Send USD to the issuer to mint USD stablecoins.
T 2 FX and a nostro account kind of defeat the whole purpose.
There's got to be a better way. And this "better way" probably involves someone who'd use their balance sheet to get your GBP/EUR and send USD to the issuer instantly.