Stablecoins appear easy to monetise. They are not. This note looks at the few models that can scale sustainably.
Stablecoin Monetisation Models
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The future of credit underwriting
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The process of underwriting a consumer or a small business has always been fascinating for me. I’ve always found it stimulating to determine someone’s creditworthiness using a more or less complicated formula. Money Changers by Salomon Koninck That’s why, over the last decade, I’ve consistently gravitated toward lending and credit—across different companies, geographies, and markets. In this...
Fintech applications for AI Agents
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AI Agents are set to redefine fintech by automating workflows, decision-making, and financial interactions.
This post explores how financial applications must evolve to accommodate AI Agents, focusing on agentic workflows, API optimization, human oversight, and authentication
Credit for a new business paradigm: Revenue Based Financing
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Alternative lenders are generally considered a low interest rate phenomenon: when interest rates are low, money is cheap, so alternative lenders can compete with banks because their cost of capital is comparable to the cost of capital of banks. Then, when the interest rates regime changes, things get much tougher: cost of capital for alternative lenders rises and it becomes increasingly difficult...
It’s all about liquidity
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While its importance is often underestimated even by practitioners, liquidity – i.e. the ease of converting an asset into cash – is one of the most important concepts in finance. From my point of view, liquidity and, in particular, the ability to bootstrap and guarantee a qualitatively better liquidity is the most appealing characteristic of the blockchain-based markets. The...
Network effects in fintech
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Network effects is, with no doubt, the biggest force behind outlandish successes in the tech space. The goal of this post is to dig deeper into the role networks effects play in fintech to provide a sustained competitive advantage.
2032: Financial Tales from planet Earth
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The post imagines what the future of finance will be in 2032. It follows the life of a fictional character - John - and analyses how four major trends redefine his financial life.
Buy now, pay later, a new payment standard?
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The goal of this post is to provide a guide on what buy now pay later is, which are its main dynamics, why it is so successful and how profitable it will stay in the longer run.
The rise of lifestyle banking
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Before smartphones, the corporeal world had a much more relevant role in building solutions to essentially any human problem. Physical constraints strongly influenced the ideation and implementation of these processes. This was obviously reflected also in the banking space. Originally, the banking industry solved the problems of storing money, delivering payments and acquiring liquidity, in...
A lending stack: merging DeFi with Traditional Finance
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Last year, I wrote a post defining the most important component of a banking stack. This post is the complement to that one, and i describes the core elements of a modern lending stack, adding some new DeFi pieces to the architecture.