Saldo, a Mexican government-approved app, enables 20,000 migrant workers in the U.S. to send remittances home via Stellar's network using peso-backed stablecoins. At Stellar Meridian conference, builders emphasized regulatory compliance as essential for real-world adoption, contrasting with crypto's move-fast ethos.
Saldo, a Mexican government-approved mobile app, allows 20,000 migrant workers in the U.S. to pay bills back home over the Stellar network using peso-backed stablecoins. At the Stellar Meridian conference in Mexico City, speakers including Jed McCaleb and SDF CEO Denelle Dixon stressed that regulatory compliance is fundamental to Stellar's advantage over competitors like Ethereum and Facebook's Libra. Stellar's built-in KYC and AML compliance layer enables projects like Saldo to operate legally. Other speakers highlighted the risks of avoiding regulation, while discussing how central banks may issue CBDCs and how asset-backed tokens on Stellar could serve emerging markets better than abstract cryptocurrencies.