andreaspujihar
185 posts
Introducing the first $IDR (Indonesian Rupiah) offramp on @HyperliquidX
Send $IDR to any Indonesian bank account 🇮🇩
Liquid banking.
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@AriEiberman @Thorwallet @Fiat24Official anyway u can appluy ur that also fiat24 but they use sumsub
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One of the worst neobank KYC experiences, so far, has been from @Thorwallet via @Fiat24Official.
The flow asks me to download another app to verify my passports.
Now with so many interop in Sumsub or persona… why using ReadID? Please don’t tell me is MiCA related 🫣
I was looking forward to getting the card because it was recommended for having the best FX rates.
I’m going to continue, and hopefully being Argentine doesn’t bring more issues, but if this message reaches any PM from either company, please help me understand the UX behind so many screens, wallet signatures, and forms on top of forms.
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Glad you’re testing us 🙌
Because you receive a full Swiss offshore banking account with IBAN and four currencies, the onboarding process is FINMA-regulated, which means it’s strict and not very flexible.
Behind the scenes, your banking credentials are represented by an NFT. This allows you to transfer the account to a new wallet if needed, which is a unique design compared to traditional fintech apps.
The setup has many advantages but also comes with a few trade-offs (limited accepted apps for verification, signing that you are the owner of the wallet..).
That’s exactly why we’re launching our next-generation card, designed to address those limitations.
Happy to give you early access if you’d like.
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The stablecoin ice cream meetups is MONTHLY.
Meeting every first Thursday of the month.
To kick start this new format, we're inviting @OfframpXYZ team to join us to talk about stablecoin payments and what to expect next for banking onchain.
Join @TobiFrieder and me 5pm next Thursday, March 5th.
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Jupiter's new stablecoin card has a few problems.
Here's what happened when I bought a coffee and a medialuna with USDC:
The @jup_mobile launched their Visa Infinite card a few weeks ago. I use the Jupiter Exchange wallet to track my Solana balances and @uselulo stablecoin yields, so testing felt the right thing to do.
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@NikMilanovic @thestablecon @artemis @nsavecom why you said kulipa, but my card issued by matchmove from singapore
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@NikMilanovic @thestablecon @artemis Nsave i checked they doesnt use kulipa but matchmove from singapore
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@AriEiberman Well if you can pay in ars
But non argentinian cant apply card
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The Stablecoin Ice Cream Meetup is made to fail... Do you know why?
Because all Stablecoin payment apps are based on US$ pegged stablecoins, and here in Argentina, nobody wants to pay with dollars for an ice cream.
Sure they pay in USD cars, apartments, land, but for a $5 Chocolate cone, nobody wants to trade their "hard-currency".
It would be the same as asking somebody to pay in gold or BTC for a bubble-gum.
We need Peso stablecoin and apps that allow you to pay in this digital peso from any app.
So, for now we'll continue doing this meetup (link in the next post). But we might go from weekly to monthly
Thoughts and feedback are welcome.
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@AriEiberman Seem like falklands have more stablecard because they follow UK law
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Tell me if this is not the best churro place in the world?
Messi + Falklands + Diego = Argentina.
Paid with USDC stablecoin via P2P.
USDC 1 = 1407 ARS
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@AriEiberman Also redotpay is more suported asia country also i remember i have offramp just 2 month after redotpay before but now they leave indonesia
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@AriEiberman Tbh
Redotpay is first i meet before i knowing other stablecoin cards
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$1 to withdraw in Solana, Polygon, etc?
Minimum $10 to withdraw onchain.
1.7% FX fee?
Is this what neobanks supposed to be? 💩
You gotta be careful when using stablecoin neobanks. They have unspoken fees everywhere and have money kidnapping mechanism to profit from your idle money.
I have no idea how so many people choose @RedotPay as their neobank.
It’s expensive and handcuffes your balance.
Can someone help me understand why is this a successful product?
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@AriEiberman The problem is depend your nationality and resident for supported countries
Like i cant use issuer CL because i live indonesia
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Many people ask me what is the best crypto card and what are these stablecoins cards missing?
I believe we'll find some answers tomorrow in this call. Tune in!
twitter.com/i/spaces/1LyxB…
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@DasYoungy @AriEiberman Well in asia to is very popular because u dont need edc u even just use qr sticker
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@AriEiberman Besides the confirmation latency, the UX is smooth.
I am curious why QR is more popular than tapping in Latin America.
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While crypto and stablecoins are global, payments are strongly local.
For businesses building payment apps on stablecoins, they really need to understand the versatility that the payment stack needs to have.
In Europe and North America -> tap-to-pay
In Asia and Latin America -> QR codes
I'm testing @beexowallet Pay, a self-custodial wallet that has an embed Argentine peso QR payment.
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@sidgandhi_xyz I'm a real witness that Payy adds 0% FX fee on top of the 1% Visa FX fee. So users still need to pay 1% FX fee using the Privacy First Payy card
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for reference payy card charges 0% for fx, and 0% for USD spend
raagulanpathy@raagulanpathy
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.
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@sidgandhi_xyz @payy_link Yea that’s not 0% fx I’m sorry to say. That’s 1%
Same as for example ether.fi.
Might not go to pavy, might go to the white label banking partner or whatever I don’t know.
But it’s the same result for the user.
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@edyjayakarya @bukanpamanmu Gw koreksi lagi biaya fx fee itu dari Rain 1%
Ada Visa yang bener2 0% kok
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@bukanpamanmu Mantap paman. Soal Tria, ini ada sedikit koreksi dari situs yang paman refer.
x.com/i/status/20116…
Edy Jayakarya@edyjayakarya
Bro, you are doing great work. But info about Tria must be corrected. Correction about Tria: • Cashback is 6%, not 5%. • No FX fee from Tria; Visa charges 1% only. • Deposit from wallet to card: free. • Withdraw from card to wallet: free. • Send tokens anytime: free, fully supported. • Earn up to 15% APY (live now). • Send and receive with Tria username. • Even more rewards and features coming soon: perp, hotels, flights etc. Tria is simply the best self custodial neobank! I use Tria everyday, bro. Please have a look. x.com/i/status/20087…
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Yang pengen tau bagaimana paman memanfaatkan kartu kredit bank indonesia!!!
Termasuk menjawab kegalauan dan mitos serta tips dan trik dan kartu apa yang menarik!!!
silahkan dibaca!!!
👇👇👇👇
pamanberuang 🇮🇩@bukanpamanmu
Indonesia
