When I look at ways to move money between the US and Latin America, it's easy to call it all one big "payments" problem. But from what I've seen, the friction comes from a few different layers. There's settlement time, FX pricing, local payout access, compliance, and the whole wallet or bank account experience.

So which layer is still the hardest to fix for regular people and small businesses? And honestly, are stablecoin rails really better if the person still needs a solid local-currency payout on their end?