Could Bank ⇄ Stablecoin bridges be the future of on/off ramping without CEXs?

I just listened to the latest episode of Epicenter, in which they interview the CEO of Monerium. Monerium provides a regulated service in Europe that bridges Euros in a bank straight to Euro stablecoins on-chain, 1:1 with no transaction or conversion fees.

They're regulated under digital cash laws, like PayPal and other such providers. This kind of service seems like it could be a good way to get on- and off-chain, without dealing with CEXes.

Pros:

• No transfer fees, 1:1 fiat ⇄ stablecoin conversion
• Funds are either in your own bank or on-chain under your control, they don't sit in a CEX.
• Companies are regulated as digital cash providers, their legal status is clearer than a CEX, they can only invest the fiat backing the stablecoins in limited ways.

Cons:

• Privacy — probably need to use additional tools to maintain on-chain privacy, without a CEX as an obscurity layer

https://epicenter.tv/episodes/503/

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