The only reason apps like Venmo and Square exist is because the American banking system is broken and 3 to 4 decades behind other countries. That means payment solutions and crypto/DeFi that successfully solve problems typical of American banking might not work elsewhere.https://twitter.com/thijsniks/status/1228036438345703424 …
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The bar is pretty low ;) the big problem remains inter banking payments. ACH and wires are ridiculously outdated, slow and unnecessary expensive.
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Yup. FedNow + IBAN could solve that. Looks like the former might happen, but the latter won’t.
End of conversation
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