Presentation in which I explore stablecoins beyond narrow banking - and what it would take to reconnect money and credit onchain
Stablecoins beyond narrow banking
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Stablecoin Monetisation Models
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Stablecoins appear easy to monetise. They are not. This note looks at the few models that can scale sustainably.
Stablecoins 2.0
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Stablecoins, led by Tether (USDT) and USDC, now total $180 billion, with new entrants like yield-bearing stablecoins, PayPal's PYUSD, Agora and M0 trying to disrupt the market.
While USDT and USDC dominate, blockchain’s true potential could lead to disruptive changes in the future of money.
Against the hype: the story of Pix
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The post analyses PIX the new Instant Payment schemes launched in Brasil: its main characteristics, success factors, and the impact that a widely adopted centralized instant payment scheme will have on the Brazilian financial ecosystem.
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.
Visa 10K: the mother of all protocols
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The post presents an analysis of Visa 2020 10K and uses it to give more context around Visa's history, growth opportunities and potential threats.
What if a crypto currency becomes the mainstream payment method?
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What if a crypto currency or a native digital currency becomes the mainstream payment method?
The post investigate the scenario of a digital currency becoming the main mean of payment and its implications on the wider financial ecosystem.
The Amazonization of retail payments
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The phenomenon of “Amazonization” refers to the wholesale disruption occurring across retail and eCommerce thanks to the leviathan-like presence of Amazon.com. Considering the platform shift happening in the retail payment space, I believe the same phenomenon of ‘Amazonization’ that happened to eCommerce will eventually happen to the retail Payments space. In this post you will find an...
The backbone of cross border transactions: correspondent banking
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A few weeks ago, while preparing my 10k analysis for Adyen, I came across a very interesting McKinsey report on Payments and stumbled into the following table on cross-border transfer flows and revenues: What really surprised me, even more than the huge revenue chuck of the B2B segment, was the disproportion between consumer and business segments and, at the same time, the...
The banking system, a giant settlement infrastructure
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A few weeks ago I noticed a tweet from one of the most interesting accounts I follow on Twitter, that of Holger Zschaepitz: Oops! Italy's Target2 liabilities have hit fresh ATH at €513bn. This increases the threat potential of the Italians. If #Italy were to leave the eurozone, the bulk of its liabilities would be lost. pic.twitter.com/LnDw5j1tlk— Holger Zschaepitz...