I have been reading a lot on stellar and my team an i decided to use stellar for our cross border money transfer Project. I do have a few questions though in regards to Anchors and fees.
Say for instance we want to start this project and build the wallet and everything that needs to be done for stellar. Now, i understand transferring a digital asset on the stellar network costs basically nothing, but what about depositing fiat and withdrawal of foreign fiat?
Question 1. if i become an anchor does my system need to connect to a bank to receive fiat, if so how is that done? Do i become a payment gateway so that banks and me the anchor can communicate? What about the costs, are their any?
Question 2. Withdrawal in foreign currency. What is required on the other end to withdraw the money in a different currency? I believe its an anchor. Can i connect to an anchor who issues foreign currency, and if so are their any costs and do they connect to a bank where the recipient can retrieve his cash?
Question 3. exchanging from one currency to another. Now as i understand you can have an offering for this. in other words, if someone on the SDEX is interested in buying you can perform the exchange there but what if there isn't? Is there another way of exchanging?
Sorry for the questions and if they are a little confusing lol but this will help me tremendously