Fiat Republic

Stablecoins are backed by assets that take days to move, while a run takes minutes. Fiat Republic gives issuers and regulated exchanges a fully reserved banking layer with same-day liquidity, plus the EUR and GBP rails a dollar stablecoin needs to enter Europe at all.

A fully backed stablecoin can still break. Reserves sit in treasury bills and fixed-term deposits that settle over days, and when confidence goes it goes in minutes. Fiat Republic's answer is unglamorous and hard to copy: be the regulated, fully reserved bank underneath, so liquidity is available the same day rather than the same week.

The second half of the problem is geographic. Under Europe's MiCA regime a dollar stablecoin cannot enter the market at all without licensed local rails, and those licences take years. Fiat Republic holds them across three jurisdictions and sells access to licensed platforms only, never to their end users.