Bravo! I don't think it can be put more plainly than that.

> So what are stablecoins really trying to do? Circumvent regulation? Implement something the banks just aren't willing to do themselves?

They allow businesses to act like banks without obtaining a commercial banking license. Initially this circumvents regulation, but over time, it allows entities to outsource solutions for those pesky regulations (compliance, audit, etc.) to third parties.