Western Union contemplating opening up its payment network (+200 countries and >380k retail locations) to become a global stablecoin <-> fiat on and offramp
Their "phone has been ringing since Circle went public" and currently running proof of concepts in South America and Africa
Dropping full plans on Nov 6th and excerpt from earnings below
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1. Rates Lower but Higher
- Market is pricing in some serious cuts in ‘24 with a ~80% chance of rates ending sub 4%
- I’m on the less aggro side and say we end ‘24 north of 4% but sub 5%
- I’m betting inflation is sticky on the way down and the fed will have trouble cutting
2. Crypto Market Cap >$2T
- Trustless financial systems will only become more valuable (esp with lower rates)
- Global conflict, migrant flows, inflationary fiat, and fallible banking systems are all tailwinds
- Crypto market cap sits at $1.7t today and is headed higher