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by anon1199022
975 days ago
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You have no idea what you're talking about, right? https://www.axios.com/2023/05/11/stripes-crypto-strategy "Accepting money is one thing, but paying out money to the rest of the world — especially long-tail countries with poor banking rails is another thing," he said.
"It works better than fiat payments in a lot of cases," he added." |
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Stripe talks a lot, while TranferWise (among others) gets shit done wrt cross border payments on real rails. Crypto is slowly dying while central banks raise rates globally, making the casino attempt at yield unpalatable (most crypto trading was gambling). Africa, for example, is going digital payments faster than some developed countries [2] [3].
Stripe's problem (along with Visa and Mastercard for that matter) is that developing countries are leapfrogging developed world financial infra, and owning it themselves to prevent "light colonization" of this critical financial infra. This compresses the global TAM for the for profit folks who are skimming off rails volume.
[1] https://longbets.org/
[2] https://www.mckinsey.com/industries/financial-services/our-i...
[3] https://papss.com/