Simon Taylor
@sytaylor • 72,976 subscribers
Nerd in AI and Finance. Ranting @ https://t.co/LujBSZoV4r - Views 100% my own
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Nubank has more than 140 million customers. Now it’s taking its playbook to the US. I sat down with David Vélez, Founder and Global CEO of Nubank, live at Nu Stadium, the day after the US launch. We get into the US launch with Lead Bank, Nu’s conditional OCC approval, and what’s under the hood of Nu Global, including Sygnum, Circle, Mastercard and Stripe. Plus AI credit models, banking agents, and the efficiency numbers that make other bank CEOs read and weep. Full interview below 👇 0:11 Nubank’s scale, efficiency, US launch, tokenization and AI 2:14 Chuck Feeney’s philanthropy and influence on David Vélez 4:13 Smart efficiency culture and Nubank’s branchless cost advantage 7:10 Hidden US banking costs and the underbanked opportunity 9:44 Nubank’s US strategy, Hispanic customers and incumbent competition 12:13 Customer obsession, NPS and long-term loyalty economics 16:48 Nu Global, stablecoin savings and international money movement 22:00 NuFormer foundation models for credit decisioning and financial AI 27:20 AI banking agents, financial guidance and cautious customer rollout 30:34 AI-driven workflow reinvention and Nubank’s flatter organization
Simon Taylor402,017 görüntüleme • 13 gün önce
Founder and CEO Nubank, David Velez on Nubank agents inside Muse and Grok? "I think it is very possible that you'll have a Nubank agent inside Muse, you'll have a Nubank agent working with Grok" "On the other end, there is a specific agent that is helping you figure out what you do with your life." "People don't do financial education." "We're excited about what AI could really mean for effectively enabling every person around the world to grab somebody, to grab their hand and helping them make the best financial decisions." "When you want to do this, you might want to save a little bit, I could move this over here if you like." Budgeting apps needed people to open them, and an agent inside a chat tool the customer already uses can suggest the move at the point of spending.
Simon Taylor44,741 görüntüleme • 7 gün önce
EXCLUSIVE: Robinhood is going to pay 7% on dollars to 27.7 million customers. In this Interview Johann Kerbrat, their SVP of Crypto explains how it all works. Robinhood Earn lives inside the main investing app. You can buy the USDG stablecoin in a few taps, and it gets deployed into vaults built with Morpho and Steakhouse, and the target yield is roughly 7%. Where does 7% come from? Market makers and liquidity providers pay it. These are traders who need USDG liquidity to run spot and perps trading. Your deposit is funding someone else's 50x leverage, and you're the one getting paid for it. Assuming you get paid back. Which, as we've seen, doesn't always work in DeFi with hacks and smart contract risk. But Robinhood has done something extra to make this retail-grade. Robinhood's answer is an insurance program with Lloyd's of London and Relm covering smart contract and vault failure. He says it's one of the largest ever built for a crypto product. Earn was one of 12 announcements; some others that caught my eye: Stock tokens in 120+ countries, backed 1:1 by real equities. You can withdraw them to a self-custody wallet and post them as collateral. Borrowing against a stock portfolio used to be a private banking perk; now it's a smart contract. Robinhood Chain went to public mainnet after 200 million transactions on testnet. Perps on stocks, crypto, and commodities at 20 to 50x leverage, bringing an entire new asset class to the mainstream. Robinhood is all in on DeFi. DeFi protocols spent a decade fighting for users. Robinhood just made a Morpho vault look like a savings account, in front of 27.7m funded customers. See the 15-minute highlights below and the full episode on the Tokenized Podcast youtube channel Full interview with Johann on bryton k. YouTube
Simon Taylor350,489 görüntüleme • 3 ay önce
Re-usable KYC is finally getting traction in the US. Customers don't want the friction of submitting their documents multiple times to open new accounts. Ideally, they could securely share proof that they've done so before. Well. Now they can. Recent Federal banking regulator and FinCEN FAQ guidance clarified how this process works, and they ran a working pilot with large financial institutions. This has been something SOLO has been working at for years with sponsor banks and fintech companies, but now they're opening their graph to any financial institution and accounting firms too. Georgina Merhom explains how it works below 👇
Simon Taylor13,392 görüntüleme • 20 gün önce
I just watched a machine buy something on Stripe. No card. No human. No checkout. Stripe Dev shipped it yesterday — machine payments, live in preview. Commerce isn't designed for machines. --- We need to re-organize around that thought. It is designed for humans. He's right. Every fraud model, every auth flow, every billing system we've built assumes a person is on the other end. Agents break all of it. They need - Microtransactions. - 24/7 rails. - HTTP-native settlement (!!) - Finality guarantees. - No subscriptions. No accounts. - Pay at the point of consumption and move on. Cards weren't designed for this. Nothing was. --- So it needs to be completely rethought Now on Stripe Agents can now pay for API calls, compute, and data through the same PaymentIntents API millions of businesses already use. Settled in seconds. --- Stripe says billions the billions of humans will lead to trillions of agents. If even 10% of that plays out, machine payments become the fastest-growing payment category on earth. --- But here's the part that keeps me up at night — If every PSP builds its own proprietary agent payment flow, we repeat the same fragmentation mess that took human payments 15 years to sort out. We need internet native, IETF-grade, ready-for-scale standards that don't over-index on crypto. Protocols that work across any network, any rail, any provider. --- Stripe just proved the market is coming. Now we need protocols and infrastructure ready for scale. PS. Machine is a better word than agentic isn't it.
Simon Taylor32,667 görüntüleme • 8 ay önce
🚨 BREAKING: Gusto just added stablecoin payouts for international contractors via ZeroHash - 400,000+ SMBs. - Tens of billions in annual payroll. - Now gets Settlement in minutes, not days. Stablecoins as an instant payouts feature for international contracts is becoming table stakes. And that's a big market. --- This is labor market math, not crypto hype. Full-time independent contractors doubled in 4 years. 13.6M in 2020 → 27.7M in 2024. 11% of US small businesses now employ international contractors. Traditional cross-border payroll takes 3-7 days. That's a week of "payment in transit" while your contractor in Argentina waits to pay rent. --- Zerohash powers this integration. Same infrastructure behind Stripe's stablecoin flows, BlackRock's tokenized fund rails, and Morgan Stanley's upcoming E-Trade crypto trading. Mastercard is reportedly circling them at $1.5-2B. --- Tempo's docs nail why this matters for payroll: "Businesses must either rely on slow, expensive, unpredictable cross-border transfers to pay employees directly, or first move liquidity to local subsidiaries to access domestic payment rails. Each domestic rail comes with its own rules, banking holidays, cutoff times, formats, and fees." That's the patchwork stablecoins replace. One ledger. Sub-cent fees. Seconds to settle. --- Gusto serves mainstream small business America. When your accountant's payroll software starts settling on blockchain rails, the infrastructure debate is over. Stablecoins aren't replacing payroll. They're replacing the 3-7 day settlement window that banks built for a workforce that no longer exists. --- #Fintech #Stablecoins #Payments #FutureOfWork #GigEconomy
Simon Taylor28,828 görüntüleme • 9 ay önce
EXCLUSIVE: Morpho 🦋 CEO Paul Frambot 🦋 on how Morpho Midnight is new infrastructure for institutional private credit. This week, Morpho launched Midnight, which enables fixed-rate, fixed-term onchain lending, starting with one cbBTC/USDC market on Base across multiple maturities. This is unlike most DeFi today, where protocols like Aave and Compound set your risk, rate, and term using their formulas. This is not ideal for large institutions with their own risk appetite. Morpho 🦋 Midnight hands risk, rate AND term to the open market, so investors can set their risk appetite, and borrowers can apply to meet that in the marketplace. Lending on Midnight means buying a claim on future cashflows, where you pay 0.95 today, receive 1.00 at maturity. The difference (discount) is your rate as a lender. That's exactly how a zero-coupon bond works, the primitive bond markets are built on. Some other nuances that came out in the interview Prior fixed-rate protocols split liquidity into a pool per maturity, so markets stayed thin and most died. This is how a bond desk runs a book. Morpho aims to ensure liquidity isn't fragmented into individual pools. It offers source funds only at fill, and one balance sheet can quote fixed rates across all maturities at once. So you quote once in many places. The fees are capped in the code with settlement at 50bps a year, a lender fee at 1%, and governance can *never* raise them. Infrastructure that can't reprice you is infrastructure a treasurer can underwrite. Wall St is coming to these DeFi protocols For example, Apollo (roughly $940bn AUM) is contracted to buy up to 9% of MORPHO supply over four years. So I sat down with Paul Frambot, Morpho's CEO, days after his most ambitious launch yet. DeFi lending reached tens of billions without a single maturity date. Now we find out what it builds with one.
Simon Taylor12,173 görüntüleme • 3 ay önce
I asked Alex Johnson and Jason Mikula what are all the things they've always wanted to say but would never publish in their newsletter? Here was their answer... Of course we're having fun here. But the reality is all of us want to see bank and Fintech partnerships get better. All of us fear it will get worse before it gets better. The time is now to act. There are standards initiatives like CFES, there are direct regulator to Fintech engagement opportunities like AIR, and there's secure 3rd party oversight solutions coming to market. What are we missing? On the 29th October in Las Vegas we're putting together the ultimate Chatham House discussion on making this industry better. How to Win at Embedded Finance. Our venue is now completely full. But drop a line below if you want to be a part of this conversation and we can follow up and share outcomes (under Chatham House of course).
Simon Taylor12,375 görüntüleme • 2 yıl önce
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