Andy Jagoe
@andyjagoe
good article on stablecoins and parallels with Money Market Funds
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Interesting
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true?
"every dollar that moves from banking into stablecoins net reduces the money supply (because the money banks “create” is more than the money created by stablecoin issuance), which was previously a Fed-only operation. Stablecoins also weaken the Fed’s power in implementing monetary policy via the fractional reser...
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Stablecoins unbundle money from banks
Fintechs need permission to build on demand deposit rails. High risk, like Zynga building on Facebook
Fintechs don't need permission to build on stablecoin rails. They work the same in every market, like building on the open web
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idea: Stablecoin only debit card issuer
-Like Bridge, but for stablecoin spending vs stablecoin payments
-Makes issuing cards easy for every wallet
-Pulls funds during auth, holds for batch settlement via Visa
-Handles fraud/chargebacks
-Not subject to Durbin rate caps
-MSB, not bank
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anyone tried the MetaMask card? i think i need to get one
MichaelK.eth
@MichaelKdcl
10mo
lets go over a recent transaction with friends at the @WaffleHouse restaurant using @MetaMask Card; the total of the transaction in fiat was $156 for Waffle House but to you the onchain tx was $152.12
how tf is this possible?
the card is tied to an EOA (aka your self custody… https://t.co/jpRikrKDvS
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This would be good for both crypto and fintechs
Eleanor Terrett
@EleanorTerrett
10mo
🚨NEW: The Trump Administration is apparently preparing to sign an executive order that could rescind certain Federal Reserve policies that have prevented crypto banks from accessing so-called "master accounts.”
This would be a big deal for crypto native banks like @custodiabank…
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