“If it involves money. It’ll be on our platform. Money or securities or whatever. So, it’s not just like send $20 to my friend. I’m talking about, like, you won’t need a bank account.”
Well that sounds terrifying!
“If it involves money. It’ll be on our platform. Money or securities or whatever. So, it’s not just like send $20 to my friend. I’m talking about, like, you won’t need a bank account.”
Well that sounds terrifying!
I think because they’re a payment processor. Banks store large amounts of money, make loans, etc.
It’s going to be like a crypto or PayPal wallet where you can store a balance, it’s just not insured or regulated like a bank.
I saw an article a while ago where a concerning amount of people were doing that instead of a bank account.
They issue credit and lenders finance this. There’s always a bank.