I have received checks in Germany in the last decade, specifically when a health insurer refunded premiums but did not have bank details on file for me.
Targeted at foreign diplomats, requires a special app, and mobile phones to be deposited away from their owners while shopping – has anyone decompiled the app to see what it is up to?
Why wasn't Circle using deposit networks? Did they take out private uninsured deposit insurance?
Circle's competitor Paxos is using IntraFi Network and Reich & Tang Deposit Solutions for BUSD according to their reports (https://paxos.com/wp-content/uploads/2023/03/BUSD-Monthly-St...) and has obtained insurance for most of their balances in excess of FDIC insurance limits.