Visa CEO just went on CNBC to say they’ve been “preparing for this moment for years.” He was referring to stablecoins.
Why now? The U.S. just passed the 𝗚𝗘𝗡𝗜𝗨𝗦 𝗔𝗰𝘁, a stablecoin bill that opens the door for banks, retailers, and fintechs to issue their own digital dollars.
On top of that, the 𝗦𝗘𝗖 𝗺𝗮𝗱𝗲 𝗶𝘁 𝗰𝗿𝘆𝘀𝘁𝗮𝗹 𝗰𝗹𝗲𝗮𝗿: digital dollars used for payments, fully backed 1:1 by real assets, are not securities
𝘐𝘧 𝘴𝘵𝘢𝘣𝘭𝘦𝘤𝘰𝘪𝘯𝘴 𝘣𝘦𝘤𝘰𝘮𝘦 𝘢 𝘤𝘶𝘳𝘳𝘦𝘯𝘤𝘺 𝘱𝘦𝘰𝘱𝘭𝘦 𝘸𝘢𝘯𝘵 𝘵𝘰 𝘶𝘴𝘦, 𝘸𝘦’𝘭𝘭 𝘦𝘯𝘢𝘣𝘭𝘦 𝘵𝘩𝘢𝘵 𝘢𝘵 𝘴𝘤𝘢𝘭𝘦. 𝘛𝘩𝘢𝘵’𝘴 𝘸𝘩𝘢𝘵 𝘝𝘪𝘴𝘢 𝘥𝘰𝘦𝘴 𝘣𝘦𝘵𝘵𝘦𝘳 𝘵𝘩𝘢𝘯 𝘢𝘯𝘺𝘰𝘯𝘦 𝘪𝘯 𝘵𝘩𝘦 𝘸𝘰𝘳𝘭𝘥.
— Ryan McInerney , CEO Visa
Last call: We're going to drop our biggest stablecoin report yet, where we unpack ALL of this – together with Fintech Blueprint. Want to reach 300k+ fintech leaders? Reach out.
Kraken launched KRAK, a direct comptetior to PayPal, Venmo, Cash App. No banks involved. KRAK is a peer-to-peer payments app for fiat and crypto across 100+ countries. Think PayPal meets MetaMask:
Translation: This isn’t a crypto wallet. It’s a full-stack payments product.
So what: I remember meeting David Ripley in Kraken’s San Francisco office back in 2019. At the time, Kraken was just a crypto exchange. Today, they're coming for the entire money movement stack. And they're moving fast. Earlier this year, they launched xStocks—tokenized trading of Apple, Tesla, and Nvidia shares, going straight after Robinhood. Now they're coming for the payments giants: Venmo, Cash App, PayPal, and every bank — at global scale. [RELEASE]
