Isn't Volt trying to build the cross-border version of this? I was actually not familiar with "pay by bank" before, but it sounds like it makes stablecoins even less attractive for the low-margin business use case a16z (and I am sure there are others) is advocating for.
Not familiar with Volt, their content marketing instant payment map was simply convenient when I searched for one (as I haven’t had time to pay someone to make a Wikipedia page yet with the same content).