Dollars are just so broken in this correspondent world. It's really hard to clear dollars outside of The US.
“Really, about 60% of our business is dollar clearing now because dollars are just so broken in this correspondent world.”
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Really, about 60% of our business is dollar clearing now because dollars are just so broken in this correspondent world. It's really hard to clear dollars outside of The US. You've got a lot of community banks in The US building these big lending books. And the problem just keeps getting deeper and deeper, and so, really, the obsession just continues.
Why this clip
Direct attack on the dollar clearing system with specific, relatable problem. The juxtaposition of 'printing paperwork and couriering to Dubai' versus building monopoly infrastructure creates compelling contrast. Strong opener for fintech discourse.
What they said next
What if we could be a payments only, 100% reserve backed bank around the world?
3:44 - 29s · Business Mechanics
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