The voice of cryptocurrency stocks has just emerged, and a platform for on-chain foreign exchange has appeared. Although it was within the scope of my imagination, I really didn't expect it to come so quickly. In fact, it shouldn't be considered fast; I had already taught everyone in 2022 and 2023 that they should convert US dollars to euros, and if that wasn't possible, at least convert US dollar stablecoins to euro stablecoins.

At that time, there weren't many stablecoin channels, and Binance and Coinbase didn't have much liquidity for euro stablecoins. I remember saying that Curve was the best liquidity pool at that time, allowing for on-chain exchanges with minimal slippage, while for exchanges, it was Kraken.

Now, although two or three years have passed, multi-fiat stablecoins have sprung up like mushrooms after rain, but indeed only a few stablecoins have some liquidity. If you want to do cross-multi-fiat "foreign exchange" trading, the difficulty is still quite high, which is what the foreign exchange trading market does.

Now, @MentoLabs aims to move traditional foreign exchange trading on-chain, and not just relocate it, but also upgrade it. It has transformed from trading only on weekdays to 24/7 trading. Additionally, Mento supports over 15 types of fiat stablecoins and provides liquidity through the PFMM market maker model. As of now, through cooperation with MiniPay, it has already connected over 8 million users, with a cumulative trading volume exceeding 15 billion USD.

In summary, Mento is bringing the "global foreign exchange market" (which has already partnered with Wormhole) onto the chain in the form of stablecoins, building a truly usable, scalable, and cross-chain interoperable on-chain payment and settlement infrastructure. This allows more stablecoins to be conveniently traded on-chain in the form of "foreign exchange," thereby realizing the model of "on-chain foreign exchange trading."

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