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by arcticbull
1800 days ago
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Generally speaking banks leave a lot to be desired in the US, which is Square's banking charter. They can make a better bank, and they can provide complementary financial services in one place. For what it's worth extant banking competitors offer substantially all the major services that Square does. JPM is a bank, a broker, a merchant acquirer (Chase Paymentech), they're a credit card issuer, a debit card issuer, an unsecured lender, as secured lender (mortgage broker). Heck, Chase even operates a private instance of VisaNet. What Square's doing isn't any different really, it's just flashier and better executed. And also, whatever this embarrassing crypto thing is: [1] [1] https://twitter.com/tbd54566975 |
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