I think it was agoristteen you brought this to the forum's attention a couple of months ago.
I think it's a nifty idea with poor execution. I think any new innovation in money transmittance is doomed to fail if it is based on the Dollar.
Ah, should have done a search before I posted, I just ran into it on reddit.
From what I can tell its not really based on any one currency, though. On his home page it says he accepts almost 20 different currencies and on his intro video he uses Bitcoin as the example...