What you are describing is some I wrote a paper on way back, called the Uberization of Money Transfer. (Read here: The Uberization of Money Transfer – Faisal Khan).
Let’s start with the basic notion. Yes, it seems logical that independent PLHs (Principal License Holders) would benefit from a grand alliance of sorts. Think about how Oyo Hotels, AirBnB, Uber itself have benefitted from a marketplace app.
The problem is, at present, no one has been successfully been able to offer an independent app for money transfers. Everyone has tried, but failed.
I follow the industry extremely well and cannot cite many examples of a successful example of an app where multiple license holders are being used from all over the world.
The blockchain element (for instant) settlement is no doubt a game changer. Companies like Everex, Bitpesa, Abra, Bitspark, et. al. are some examples of who are trying to go down this avenue – mixing remittances, multiple license holders and blockchain / token technology in one.
Depending on the model, the risk goes down significantly, but as with any business, the default risk always remains, even with conditions of 100% reserve.