Speaking as someone who has worked in the crypto space, I tend to agree. This play is about offering well-made shovels to the industry.
The regulatory hurdles of getting into or out of fiat from crypto make it nearly impossible for all but the biggest players due to Money Service Business laws in each of the 50 states let alone internationally.
As such this is a regulatory arbitrage play and one that will be welcomed by the industry as it is currently filled with extremely expensive options (Looking at you Prime Trust) and predatory actors.
Stripe can clean up here in the short term if their product offers fair and transparent pricing to industry as is their brand.
I do suspect they will stick around this time as the number of players has grown and the US government looks like it is finally ready to embrace the industry and bring some much needed regulatory clarity.
The regulatory hurdles of getting into or out of fiat from crypto make it nearly impossible for all but the biggest players due to Money Service Business laws in each of the 50 states let alone internationally.
As such this is a regulatory arbitrage play and one that will be welcomed by the industry as it is currently filled with extremely expensive options (Looking at you Prime Trust) and predatory actors.
Stripe can clean up here in the short term if their product offers fair and transparent pricing to industry as is their brand.
I do suspect they will stick around this time as the number of players has grown and the US government looks like it is finally ready to embrace the industry and bring some much needed regulatory clarity.