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the biggest utility is moving money across borders. Not sure about TerraUSD but USDT is very valuable in a lot of countries like Dubai and others. It is the heaven for money laundering or avoiding tax and the demand and transaction volume is hugeee. For example, in south east asia , all the casinos, digital frauds, drug sales are using USDT as a way to move money or transact.

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It's frequently touted as such, but don't you generally need some supply-demand parity across the borders?

E.g., there's likely high demand for USDT to move money out of Russia, given the currency control and Visa/MC restrictions. But if you're currently in Russia sitting on a massive pile of USDT, you probably don't want a massive ruble exposure either, and hodl'ing that USDT seems like a fairly solid strategy for the time-being?

There might be some supply-demand parity but price will take care of it. It is just like any currency exchange or border transfer but without the regulations and tax. Eg. USD is more widely preferred than Thai baht but there is a still a large market for exchanges and money transfer.

I can see how this could easily be used for that. I’m trying to figure out the theoretical legit use for this.

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