Tag Archives: Treasury

How Will Stripe Treasury and Balance Impact SMB Banks?

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I am a loyal Bank of America customer (personal and business); I have absolutely no interest in changing banks given their 20+ year history of consistent service. I’m also a Stripe customer (blog payments) and am fantastically satisfied with their payment processing. Yesterday I received this email from Stripe.

I’m now enabled for Stripe Treasury. With a single button click I can now move money in real time anywhere in the world for $0 cost and earn 1% on my balance. 

This is an amazing value proposition. My 15 seconds of effort to turn this on led me to think about the impact of Treasury and Balance on SMB banks. Feedback appreciated.

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JPMorgan, Citi and TCH: Tokenized Deposits ON Chain

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Builds on: 101 Update: CBDCs, Stablecoins and Tokenized Deposits | Stablecoins: A New Model of Trust | Stablecoin Scenarios The WSJ reported yesterday that JPMorgan, Citigroup, and TCH (a consortium of the largest US banks) are planning a shared tokenized deposit system. For anyone who has been following this space, this is not a surprise. It is a confirmation. I’ve been writing about this trajectory for years. The question was never whether banks would adopt blockchain infrastructure. The question was always how and the commercial construct that governs operation. Now we know.  Continue reading →

Amazon’s Stablecoin Strategy (and other Channel Masters)

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It’s not about Consumer 

My best guess

Recent media reports have ignited speculation about the entry of Amazon and Walmart into the stablecoin. The dominant narrative surrounds consumer use and the desire to endrun card processing fees. IMHO this perspective represents a fundamental misreading of the strategic calculus for a global supply chain “masters” and overlooks the far larger, more complex lucrative prize: the radical optimization of its global treasury operations. An “On Us” that spans the globe and encompasses all of amazon’s marketplaces, AWS services, Advertising,… and everything else.  A proprietary, closed-loop financial rail that serves as the financial backbone for its vast network. 

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