Stellar rails, not Ethereum — Circle's been running USDC-on-Stellar as its remittance primary since 2021, and Kredete's $9B annualized on 4.6M users validates the chain choice for payments over DeFi. Credit card, not debit, is the load-bearing detail: prefunded stablecoin debit exists everywhere (Gnosis Pay, Crypto.com), but underwriting a USDC-denominated revolving line across 50 markets with 15-30% local FX volatility is a different risk model. GCC leg is the harder lift given UAE's VARA-regulated AE Coin already sits first-class in the regional stack.

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