The 5-year-old company, which recently raised $131 million, says its strong growth reflects the timeliness of its mission: helping consumers who live paycheck to paycheck build wealth.November 25 CEO Wendy Cai-Lee says Piermont Bank can do it all for financial technology firms: be their commercial banker, be their banking-as-a-service provider and develop APIs and other cutting-edge products for them.November 24
These banks open as mini-Swifts, connecting the correspondent bank ledger to sandbox. Stable coins are big. As stable coins, the hedge funds can make efficient over the counter trades. Now, with the contract capability, stable coins can enter more complex conditional contracts, based on future events. This is open market contracts, traders can buy and sell these contracts by entering or exiting them. Option prices inside utilize short chain dollars, stable coins, local to the bank offering the interface. All of this risk neutral, this is still all payment services, but these Swift banks are free to 'spin up ' and Eth 2.0 node, just like coin base. Running a contracts node is risk free relative to Swift accounts.
So, we are at that point, do we want American Swift bankers locked out of the market with central bank taxes? You cannot lose any more market share, we consumers cannot buy inventory every year and a half while paying taxes yearly.
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