Khalid
@0xkhalid
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Product & Design. Nature, music & stoicism. Building @paygridnetwork | https://t.co/SgSqH4Lofq. Ex-Uber/Careem/Noon
Amsterdam, The Netherlands
Joined July 2010
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The first half of October is a busy one for @dfnsHQ🧳 From New York to Madrid, London, and Amsterdam, we’re meeting with partners across the US and EU. 📍 Notabene Summit, New York (Sep 29) 🇺🇸 Our Head of Product, Chris Sutton, joins @PelleB (@notabene_id), @kkvanderleest
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Now @MoneyGram are adopting stablecoins, powered by @crossmint • Instantly receive and save in USDC • Cash out to local currency when needed Remittance is evolving
Remittance is evolving. And the biggest revenue line at stake is FX. As consumer wallet adoption grows, one remittance trend I'm seeing is to just send dollars directly. Traditionally, US remitters send dollars, the service converts, and recipients are paid in local currency.
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I've said it before and will say it again. Monad is endgame EVM architecture. Every single layer of the EVM blockchain layer was meticulously thought through from the ground up, where ETH 10-year vision can be realized from day 1 on Monad.
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Blockchains solved speed, stablecoins solved currency, clearing solves efficiency. Let's build this together.
Today we're publishing our vision: "A Multilateral Clearing Network for Stablecoin Payments" PSPs move $72B+ annually in gross settlements when net obligations are much smaller. We're fixing this. Read more
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In our deep dive on Stablecoins, we map 80+ European startups building the new epoch of money. https://t.co/ZHIFcFwNsG More details in the🧵
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Why now? Stablecoins enable PSPs to directly custody without banks for the first time in history. Making institutional grade payment clearing finally possible.
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PSPs are stuck with bilateral relations and floats to cover timing mismatches - mimicking how banks operated before clearing networks emerged.
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Excellent analysis by @MMC_Ventures and @AdvikaJalan on stablecoins, and provided a framework of how to think about the ecosystem. As payments explode, the Clearing & Settlement infrastructure category becomes essential to scaling it. Why?
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Artemis released the most comprehensive report on stablecoin payments usage to date. We at @dragonfly_xyz supported the @artemis team in compiling research and insights for the report. A few of the most exciting key takeaways for us:
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When banks launch permissioned tokenized cross-border clearing, it's game over. We have months, not years, to build our own clearing infrastructure. The window is closing. Read the full post:
paygrid.network
Stablecoin clearing network for payment service providers
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Meanwhile, banks aren't sleeping. SWIFT + CLS are building tokenized clearing right now. Their own report says it: "significantly reduce liquidity needed". Translation: They're about to have high efficiency in cross-border crypto too.
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Here's the uncomfortable truth nobody admits: Stablecoins ONLY win where banks fail at clearing. US domestic, SEPA? Banks dominate with mature clearing. Cross-border? Banks stuck with the same inefficiencies as PSPs. We're not winning. We're arbitraging disconnect banks.
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The brutal math of why PSPs still can't compete long term: - Banks: Move $1B with just $34.5M (29:1 efficiency) - PSPs: Move $1B with... $1B (1:1 - fully prefunded) Stablecoins made payments fast. They didn't make them capital efficient. We solved speed. Not cost.
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For 250 years, only banks could access clearing networks. Then stablecoins arrived, and for the first time ever, PSPs can hold reserves directly. No bank needed. But here's what everyone missed:
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Imitation is the sincerest form of flattery. @m0foundation
1/5 Bridge is introducing USDB—a programmable, secure stablecoin designed for developers. It’s a new way to embed digital dollars into your app, with rewards built in.
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Great news, ZK needs more practical understand that makes it seem less like black magic and more understood as the future of verifications.
1/ Google announced that Google Wallet will be using "ZKP" to support "fast and private age verification". But wait, what type of ZKPs are they actually using?
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