Steven | Rebind

Our off-ramps are instant, zero-fee and are never rejected by your bank. But this makes using your crypto even faster. Welcome @gnosispay to @getrebind!

@rsquare I tried but couldn’t spin up a new account on mobile.

Have you tried the new Safe Mobile app, anon? safe.global/mobile

Everyone check the inbox 👀

@sytaylor What’s your bet how it‘ll play out?

🚨 BREAKING: Revolut just filed for a U.S. bank charter. Nubank already has conditional OCC approval. Both are arriving. Simultaneously. --- Revolut: - 70 million customers. - 40 markets. - $75B valuation. - Filed today. Will form Revolut Bank US, N.A. and named Cetin Duransoy as U.S CEO. Recently CEO of Raisin and a former senior Capital One Exec. --- Nubank - 110M Customers - $72bn valuation - applied in September. - Got conditional OCC sign-off in January 2026. - 127 million customers across Latin America. Already the largest private bank in Brazil by customer count. --- A U.S. bank charter unlocks the full stack for both of them. - FDIC-insured deposits. - Direct access to Fedwire and ACH. - Personal loans. - Credit cards. - Net interest margin. That's a digital bank not a Neobank. Revolut no longer has to go state by state for MTLs, and can launch the products that really make money in lending. --- Revolut has tried to enter the U.S. numerous times but always fell at the licencing step. What makes this time different? They're much bigger and much more mature. And they walking a well worn path with others having recently got charters. --- The U.S market is about to get fascinating You have Neobanks like Chime, Dave and Current who have carved out a niche, but aren't massive. SoFi who's a real player in banking. And now two genuine juggernauts in Revolut and Nubank. They know how to win regulatory fights. They know how to earn trust at scale. And they run on cost structures that Chime, Dave, and Current were never built to compete against. --- The U.S. neobank market has been waiting for a genuine shakeup. It just got two of them. Do you think they'll get traction Or is this Revolut crying wolf again?

@AdrienStern @LucaProsperi @sytaylor @nlevine19 +1

@LucaProsperi @sytaylor @nlevine19 I want to see this!

Rebind v2 knocking on the door

Leaking our pivot

@klarnaseb @HarryStebbings @twentyminutevc @20vcFund Just watched it. Loved the view on AI as compression technology. Curious to see BNPL to main account CR in the longrun.

Thanks for having me on, @HarryStebbings! @twentyminutevc @20vcfund

@raagulanpathy @KASTxyz You forgot the revenue side of the equation. Saying you „covered costs“ feels misleading. What’s the average interchange fee you received?

At @KASTxyz are dropping FX from 2% to 0.5-1.75% & USD spend remains 0% We are constantly renegotiating contracts, and this allows us to reduce costs, and pass this onto users. Why was it 2% in the first place? — Let me explain, for those who want the long version. 1/ The schemes charge a cross-border fee of 1%. This applies to FX & even USD which is spent outside the US (for which we charge 0% but makes up 20% of spend. Combined the blended was 1.2-1.3% in costs 2/ Then we have processing fees, for authorization and settlement, which is higher in cross-border. This is typically another 0.3-0.4% 3/ Then we have the fraud, decline and other costs which are higher on FX transactions. 4/ And costs to swap & settle USDC/T to the schemes. Blended, it cost us >2%. We charged 2% to cover costs. The good news, is because we now have scale and funds, renegotiate and bring these costs down. It’s a multi-year process, and complicated. Why the variance between 0% and 1.75%? Because our costs are different between markets, and where we can go lower we will. Soon, we hope to have multi-currency cards which would have no FX in places like Europe, Brazil etc. My target for later this year is to reduce the maximum to 1.5% and have over 50% of where global spend happens at between 0-1%. Far from done yet, just getting started.

@VitalikButerin Finality also needs to be much faster though still.

There have recently been some discussions on the ongoing role of L2s in the Ethereum ecosystem, especially in the face of two facts: * L2s' progress to stage 2 (and, secondarily, on interop) has been far slower and more difficult than originally expected * L1 itself is scaling, fees are very low, and gaslimits are projected to increase greatly in 2026 Both of these facts, for their own separate reasons, mean that the original vision of L2s and their role in Ethereum no longer makes sense, and we need a new path. First, let us recap the original vision. Ethereum needs to scale. The definition of "Ethereum scaling" is the existence of large quantities of block space that is backed by the full faith and credit of Ethereum - that is, block space where, if you do things (including with ETH) inside that block space, your activities are guaranteed to be valid, uncensored, unreverted, untouched, as long as Ethereum itself functions. If you create a 10000 TPS EVM where its connection to L1 is mediated by a multisig bridge, then you are not scaling Ethereum. This vision no longer makes sense. L1 does not need L2s to be "branded shards", because L1 is itself scaling. And L2s are not able or willing to satisfy the properties that a true "branded shard" would require. I've even seen at least one explicitly saying that they may never want to go beyond stage 1, not just for technical reasons around ZK-EVM safety, but also because their customers' regulatory needs require them to have ultimate control. This may be doing the right thing for your customers. But it should be obvious that if you are doing this, then you are not "scaling Ethereum" in the sense meant by the rollup-centric roadmap. But that's fine! it's fine because Ethereum itself is now scaling directly on L1, with large planned increases to its gas limit this year and the years ahead. We should stop thinking about L2s as literally being "branded shards" of Ethereum, with the social status and responsibilities that this entails. Instead, we can think of L2s as being a full spectrum, which includes both chains backed by the full faith and credit of Ethereum with various unique properties (eg. not just EVM), as well as a whole array of options at different levels of connection to Ethereum, that each person (or bot) is free to care about or not care about depending on their needs. What would I do today if I were an L2? * Identify a value add other than "scaling". Examples: (i) non-EVM specialized features/VMs around privacy, (ii) efficiency specialized around a particular application, (iii) truly extreme levels of scaling that even a greatly expanded L1 will not do, (iv) a totally different design for non-financial applications, eg. social, identity, AI, (v) ultra-low-latency and other sequencing properties, (vi) maybe built-in oracles or decentralized dispute resolution or other "non-computationally-verifiable" features * Be stage 1 at the minimum (otherwise you really are just a separate L1 with a bridge, and you should just call yourself that) if you're doing things with ETH or other ethereum-issued assets * Support maximum interoperability with Ethereum, though this will differ for each one (eg. what if you're not EVM, or even not financial?) From Ethereum's side, over the past few months I've become more convinced of the value of the native rollup precompile, particuarly once we have enshrined ZK-EVM proofs that we need anyway to scale L1. This is a precompile that verifies a ZK-EVM proof, and it's "part of Ethereum", so (i) it auto-upgrades along with Ethereum, and (ii) if the precompile has a bug, Ethereum will hard-fork to fix the bug. The native rollup precompile would make full, security-council-free, EVM verification accessible. We should spend much more time working out how to design it in such a way that if your L2 is "EVM plus other stuff", then the native rollup precompile would verify the EVM, and you only have to bring your own prover for the "other stuff" (eg. Stylus). This might involve a canonical way of exposing a lookup table between contract call inputs and outputs, and letting you provide your own values to the lookup table (that you would prove separately). This would make it easy to have safe, strong, trustless interoperability with Ethereum. It also enables synchronous composability (see: ethresear.ch/t/combining-pr… and ethresear.ch/t/synchronous-… ). And from there, it's each L2's choice exactly what they want to build. Don't just "extend L1", figure out something new to add. This of course means that some will add things that are trust-dependent, or backdoored, or otherwise insecure; this is unavoidable in a permissionless ecosystem where developers have freedom. Our job should make to make it clear to users what guarantees they have, and to build up the strongest Ethereum that we can.

@ycombinator @DaivikGoel We are on it. @getrebind is close to public launch.

Stablecoin Financial Services @DaivikGoel Stablecoins are rapidly becoming critical infrastructure for global finance, yet much of the financial services layer remains unbuilt. This creates room for services that offer the benefits of DeFi. Now is the perfect time to build something in this space.

The way startups are built has shifted quickly. We're excited about a range of startup ideas for AI-native companies that can now be built faster, cheaper, and with more ambition than ever. ycombinator.com/rfs

Thanks for the thought-provoking piece. My main critique is that you are overemphasizing flashy but low probability events like “left-handed bacteria,” while merely giving lip service to the risk of extreme economic concentration of power, which is very real and materializing as we speak. Anthropic is reportedly raising funds at a $350B valuation, and the wealth created thus far has been concentrated into a few hundred (perhaps more like dozens) high net worth individuals / institutions. It’s looking increasingly likely to me that none of the leading AI labs will IPO until they reach valuations in the trillions, at which point retail investors will finally be able to get shares. In order for retail to get a 100x return on these investments, which was achievable for Apple, Microsoft, Amazon, and Google, the valuations of the AI labs will need to reach hundreds of trillions of dollars, meaning it’s likely too late for a more equitable redistribution of wealth. Simply put, you are currently exacerbating the problem. The consequences of this are that voters may take matters into their own hands and push for either or both 1) more aggressive / nonsensical forms of redistribution — the CA Founders’ Tax is just the beginning or 2) a drastic knee-capping of the AI industry in America, which make the CCP dominance scenario more likely. The solution is to enable retail ownership now, increasing the number of Americans with economic exposure to Anthropic and other AI labs from hundreds of people to millions.

You are happily invited to work and experiment with me.

@Marcus998236195 @getrebind @gnosispay @0xNeptun @zealwallet @usePicnicBR We are moving towards 1k. Access is still limited to @getrebind.

@StevenFgr @getrebind @gnosispay @0xNeptun @zealwallet @usePicnicBR Ah. Thank you for clarification. How many users have you already onboard who use the debit cards regularly?

✦ A new Gnosis Pay web app is live! faster & more secure for users. ✦ A highlight to the new space for our partners in the app, where you can explore apps to boost your experience, like @getrebind @zealwallet and @usePicnicBR. More partners coming soon! Go to my.gnosispay.com to try it out and tell us what you think. 🦉💳

@Marcus998236195 @getrebind @gnosispay @0xNeptun @zealwallet @usePicnicBR Gnosis Pay provides a debit card, not credit card. The virtual card is always for free when using @getrebind . For physical check the current @gnosispay conditions. We don’t provide special offers for that.

@StevenFgr @getrebind @gnosispay @0xNeptun @zealwallet @usePicnicBR Do you have a referral code for gnosis credit card? As far as I know there was a special offer in the past to get the gnosis card for free. @getrebind and gnosis are a perfect match here.

@jevgenijs @mikulaja FX is a great stablecoin use-case they said. :/

Incredible reporting by @mikulaja! In banking, incidents like this tend to make institutions stronger by forcing improvements in monitoring practices. Hopefully, we, as an industry, adopt the same practice.

@nicoypei Agree but let’s see how fast onchain liquidity will grow for the long-tail of currencies.

FX is one of those things that's so obvious, yet so nuanced when you go into the weeds of it worth noting that fintech giants wise, revolut and airwallex all started with FX, and FX accounts for >40% shares of Paypal's revenue when it went public for stablecoin neobanks, whoever can tackle multi-currencies accounts could have a huge leg up

@locodinho22 Hey danke für dein Feedback. Es scheint als würde ein paar Worte am Ende fehlen. Sende dir eine DM.

Ein möglicher Verbesserungspunkt: Ich markiere hier mal Steven @StevenFgr den Gründer (hoffe das ist der richtige). Es wäre hilfreich, etwas mehr Informationen zu den Stablecoin-Anlagen zu bekommen, zum Beispiel, dass Spark USDC rund 4 % Zinsen bietet, während andere USDC-Angebot

Hey Leute, Heute war es soweit, ich habe das erste mal Geld in ein Defi Projekt gesteckt und zwar 75 euro in Rebind. Ich bin ein depin-experte, aber über defi habe ich keine Ahnung und Angst vor scams. Dennoch habe ich jetzt 75 euro investiert.

@DSameerChoubey @getrebind Appreciate that. Sent you a DM

@StevenFgr can't DM you. looking to test @getrebind

@litocoen @grok will it be cheaper to produce 1 MWh of solar energy or nuclear energy in 20 years?

@StevenFgr outpaced just means “to rise faster than …” very high transition costs in the case of germany which is literally deindustrialising in reql time because it bet the house on solar ;) i like solar but nothing beats the energy (and space) efficiency of nuclear

electricity was the cheapest it has ever been in human history in the US in the 1970’s then came three mile island and many nuclear reactors got decomissioned electricity prices been going up ever since despite consumption being almost flat in the same period

@litocoen Outpaced sounds drastic for +3% more increase than inflation over 45 years. And it’s going to decrease a lot, we just paid „transition cost“ over the last two decades. Solar is 10x cheaper today vs 2010.

@StevenFgr it has outpaced inflation energy prices from 1980 to 2025 +280% inflation +270% my point is that it should decrease