Emanuele Rossi ⚓️

Anchorage Digital is partnering with @m0 to expand how stablecoins are brought to market.

We’re excited to announce @Anchorage is partnering with M0 to power stablecoin issuance using M0’s modular infrastructure. Anchorage Digital will become the first federally chartered digital bank to do so.

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We’re excited to share today that we’re backed by @greenfield_cap , alongside an incredible group of investors including @KosmosVC, @genventurecap, @ZeePrimeCap and other strategic funds and angels. Share is an internet infrastructure network building Africa’s backbone. We've built an open-access model that allows internet providers to deliver 100x speeds without increasing their costs. By consolidating the fragmented internet ecosystem in Africa, we’re powering connectivity for the youngest and fastest growing population in the world. To read more: greenfieldcapital.com/2026/04/13/inv…

"I basically do not use a bank account anymore." Emanuelle (@stablemanuele) from @Anchorage at our Stablecon Salon with @twifintech on why he uses stablecoins, and what they mean for domestic use cases. Want to go deeper? Our stablecoin guide covers how they fit in a modern payment stack. Get the guide: go.moderntreasury.com/4srA0xS

I started looking at Western Union because I thought stablecoins would kill it. Then I realized WU is better positioned than almost anyone to leverage them. Brand, distribution, 200+ countries, $923M in EBITDA. The key risk was management. They had been skeptical of stablecoins. I placed the bet in November. Since then WU has not only outperformed Solana but the broader market: WU +2.14% / SPX -6.76% / Nasdaq -11.66% / SOL -56.15% WU is a $2.8B market cap business trading at 6x earnings with a 10% dividend yield. Remitly trades at 50x on a 2.3% operating margin. Wise at 23x. The discount exists because WU revenue is declining 3.8% while both are growing 25%+. I am not fighting that. But at 6x earnings you are paying for zero recovery, zero tech adoption, zero optionality. That is the margin of safety. I was at the @blockworksDAS this week. The WU CEO was on the same stage. Very different energy from the one I had been following. Clear on the stablecoin strategy, talking about flipping negative float into positive float. They have since announced USDPT, their own stablecoin on Solana. For a 175-year-old company to go from skepticism to launching on Solana in under a year is a meaningful shift. Of course, there is plenty of execution risk. The bear case was always that they would not act. They are acting - and that alone warrants a repricing. The math I ran back in November when I placed the bet was: lose ~20-30%, cushioned by $500M in net income and a 10% dividend. Re-rate to Wise multiples and it is 4 to 5x. I am not betting on convergence. I am betting the market prices zero probability of it, and I will get paid for getting a free option. WU is part of a broader thesis that led me to start @inversion_cap: acquiring businesses with distribution at attractive prices. There is a lot of embedded optionality in those businesses. Not all will act in time. Some will die. But the ones that do will meaningfully outperform, and those gains will more than outweigh the losses. You reduce that risk meaningfully when you control that business. The greatest beneficiaries of cost-reducing technology like AI and crypto are not the startups building it. They are the incumbents with distribution that adopt it. WU is one of many. Full piece on Substack: open.substack.com/pub/obviously/… @HadickM double or nothing? Market settles November 1, 2026. DISCL: Long WU. Long SOL. NFA.