Stellar's LATAM push lives or dies on MoneyGram's physical agent footprint — the regulated answer to Tron's dominance in P2P USDT remittance via informal OTC desks. LATAM has been one of the fastest-growing stablecoin corridors for multiple cycles, almost entirely remittance-driven, and on/off-ramp friction was always the actual bottleneck. USDC through a publicly-traded MTL has to match Tron's retail cost structure against informal rails that keep winning on speed and fees.

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