[konschubert]

I hope I’m wrong because I want them to be successful but I’m less optimistic about the optimization potential.

I’d say that they are probably transacting 0.9X or something in that range.

Reason being that, I suspect, a lot of their transfer flow is from richer countries to poorer countries, as payments for services.

Of course that money flows back at some point, but as payments for goods shipped, which typically doesn’t happen through transfer wise.

[rahimnathwani]

You are right. 0.2X is reasonable for a transfer company with a more general audience.

I wonder what % of their total transaction costs are from FX spread and fees. Maybe, even at 0.9X, total transaction costs are dominated by local bank transfer fees.