@borjaneira_ on Backlist

79.

The stablecoin on/off-ramp must be understood as a dealer function situated at the boundary between two monetary …

The stablecoin on/off-ramp must be understood as a dealer function situated at the boundary between two monetary hierarchies. Stablecoins compress the transport of money: they reduce latency, intermediaries, reconciliation, and settlement

by @borjaneira_ (neira) · backlist 2026-06-08 · rubric 72.0

21.

The gap between dollars priced in FX markets and dollars that can move

Covered interest parity describes a clean pricing relationship, but real FX stress often comes from whether dollars can actually move through collateral and settlement plumbing

by @borjaneira_ (neira) · backlist 2026-05-26 · rubric 73.0