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https://twitter.com/TheOneandOmsy/status/1968096693255106904

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Simon Taylor

@sytaylor

Jan 2

The @kontigo_app vs Checkbook & JP Morgan drama is pure 🍿.

I wanted to give it some context. Because the claim of "banking system is evil and outdated" is simply wrong and lacks context.

Here's what I think is really going on

JP Morgan closed accounts for crypto startups Kontigo and Blindpay

The information reported that the account freezes were linked to business activity in high-risk regions, including Venezuela, and to gaps in customer identity checks.

From Tradeweb: “JPMorgan acted after seeing rising disputed transactions and chargebacks tied to these accounts. The bank said the decision was based on risk controls, not opposition to stablecoins themselves.”

To understand this, there are a few things we need to unpack:

🧠 There are three players here. Checkbook, JP Morgan, and the start-ups themselves.

- JPM banks Checkbook.
- Checkbook "banks" Kontigo.
- Kontigo serves the End User.

Read 13 tweets

Simon Taylor

@sytaylor

Dec 23, 2025

🚨 JUST IN: @Shift4 just launched stablecoin settlement for hundreds of thousands of merchants.

Merchants can get paid in USDC, USDT, EURC, or DAI 24/7

Instead of waiting for bank transfers - OR paying a fee (like 1%) for an advance.

Here's why it matters 🧵

Shift 4 is a major PSP.

- They process billions of transactions a year.
- $200B+ in payment volume.
- Segments like restaurants, hotels, stadiums, retail.

Not all of those merchants are familiar with stablecoins.

But the ability to get paid faster will make many of them curious.

And that expands the TAM of stablecoins.

Why stablecoins for merchant settlement?

Right now, if you're a merchant and you want your money faster than the standard 2-3 day window, you pay for it.

Square charges 1-1.5% for instant payouts.

PayPal has similar fees.

Everyone does.

Stablecoins settle in seconds. Around the clock. Weekends and holidays included.

Read 6 tweets

Simon Taylor

@sytaylor

Dec 21, 2025

The State of Fintech 2026:

Nubank: 127m customers
Klarna: 114m
Revolut: 65m

A handful of companies now have more users than most countries have people.

We've entered the Age of the Fintech Hyperscaler.

🧵 What I learned writing the annual report with @jevgenijs

AI assisted 1 in 6 purchases this Black Friday.

It showed in the data for the first time.

But here's the uncomfortable truth:

Almost no fintech has an industry-specific foundation model driving earnings.

Stripe is the only example I found.

The rest is still vibes.

Stablecoins found product-market fit.

Not as "bank killers."

As cross-border rails and corporate treasury tools.

The use case that won: payouts and pay-ins for businesses tired of correspondent banking.

Boring? Yes. Working? Also yes.

Read 10 tweets

Simon Taylor

@sytaylor

Nov 21, 2025

Huge moment for Agentic Commerce.

EMVCo (the technical body behind Visa, Mastercard, Amex) is creating global standards for "agentic payments."

This is the biggest change in card payments since "tap to pay"

Here's how it works 🧵

Right now, AI agents are phenomenal at finding things to buy.

- Power users are starting to default to their research
- Can compare complex options and summarize
- And when people click through conversion is 2x to 5x higher

But...

There's no agreed way for payment to happen

- There's countless protocols
- x402 for agents accessing other tools
- ACP and A2P from Open AI and Google
- Visa and Mastercard have their own approaches

Read 11 tweets

Simon Taylor

@sytaylor

Nov 12, 2025

JPMorgan clients can now swap JPMD for USDC on Base.

That sentence should break the internet.

JP Morgan payments moves $ trillions PER DAY

It dwarfs the entire stablecoin industry.

This is how 1000x more dollars go onchain 🧵

Picture the actual flow:

- A JPMorgan institutional client holds JPMD (bank deposit token).
- They need to transact with a Coinbase customer holding USDC (stablecoin).

A corporation could

1. Move JPM Coin from JPM closed loop to Base
2. Swap JPM Coin for USDC
3. Receive USDC in their base wallet
4. Send that USDC to a 3rd party, or swap it for another bank deposit token

This is the baby step towards going open loop.

Banks have tokenized deposits in closed loop

- Citi
- HSBC
- Deutsche
- JP Morgan

But now those walls have doors that open onto public blockchain rails.

Base becomes the trading floor where closed systems meet open ones.

Read 8 tweets

Simon Taylor

@sytaylor

Oct 8, 2025

Biggest story in stablecoins nobody noticed

Alipay, the mobile payments wallet with 1 billion users, will launch a EURO Stablecoin BREUR, to the European market

They're only the second to be listed by the European Regulator ESMA.

This is HUGE for reasons you're missing 🧵

Alipay has over 1 billion active consumers

It is a digital wallet and "superapp" for online and in-store payments

Also does financial services like investments and wealth management.

Why are they so early to Euro stables?

Here's what everyone missed

Alipay went live with tokenized FX between EUR, GBP and USD at

- HSBC
- Citi
- JP Morgan

They're pushing their banks hard

And they have their own blockchain Ant Chain

Read 5 tweets

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