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anon1199022 | 2 years ago
"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."
toomuchtodo|2 years ago
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/
rvz|2 years ago
> "Stripe talks a lot, while TranferWise (among others) gets shit done wrt cross border payments on real rails."
Stripe has also shipped theirs though and it is available and is in use. [0] So have Moneygram [1], Visa [2], Checkout.com [3], PayPal [4] and beyond payments, Walmart Canada is using one right now. [5]
The fact is, they are using blockchains and they are not going away (or dying) anytime soon, like it or not.
[0] https://stripe.com/gb/use-cases/crypto
[1] https://stellar.org/products-and-tools/moneygram
[2] https://usa.visa.com/about-visa/newsroom/press-releases.rele...
[3] https://www.checkout.com/solutions/crypto
[4] https://www.paypal.com/us/digital-wallet/manage-money/crypto...
[5] https://hbr.org/2022/01/how-walmart-canada-uses-blockchain-t...
anon1199022|2 years ago
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