I'm seeing a lot of discussion recently about a new generation of neobanks, built on top of crypto/stablecoins, and I don't really get it.
Why is "instantly global" appealing for most consumers and small businesses?
And what, specifically, do "modern" financial rails get you that existing rails and wrappers can't deliver?
There are some edge cases where I can see the appeal. Like if you wanted to build a B2B neobank serving businesses that are multi-country and have complex payment needs.
But for most bank customer segments, why would a Web3 neobank be superior to a Web2 neobank?
To give a specific example, why is Phantom Cash better than Cash App?
Neobank thesis
Just like Web2 neobanks created $100B businesses by simplifying banking/trading for mainstream users, Web3 neobanks will create even larger companies because they are instantly global and are built on modern financial rails not wrappers of payment tech from the 1970s.
$ETHFI is far ahead ahead of the competition in building the first global neobank built on more efficient crypto rails that can quickly scale to serve hundreds of millions of users. Highest conviction investment in this category.
14.57K
64
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.