Think it through, that’s true only if you already have the USDC, you still have to buy them somewhere and sell them somewhere, with the same limits. Also I just picked US services, Canada has Interac e-Transfer and other countries have similar products too. The whole EU has SEPA. There are competitors in the African market even like mpesa. And if you want to move money to another country international remittances are already cheap and fast. Most people just don’t have the problem of needing to send tons of money to each other across borders all the time.
Apple isn’t rolling up to the Wells Fargo and accepting a 5% spread. If you personally want to exchange a ton of money open an interactive brokers account and you’ll pay 0.08 basis points (0.0008%) minimum $1. If you don’t want to trade that much, check out compareremit.com and see what people are paying retail, it’s actually very competitive. In the popular USD-INR corridor you could pay close to mid market rates plus zero commission. This is a solved problem.
