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Simon Taylor Been using stables for years. And a full loop from cash->cash cross border payment is still way less efficient than Wise using almost any mix of counterparties you can imagine. Where stables may win, however, is being "compliance light".

Per the Genius Act, stablecoin issuers must comply with Bank Secrecy Act requirements. Can they have a public blockchain, showing some community college regulator who’s sending money to who? TD can’t track a guy walking into a branch but hopefully CRCL can decipher its ledger.

WSJ article this morning highlights how tradfi is launching a stablecoin, with Fiserv trying to partner with banks. Hopefully banks can create their own coin platforms; they have the customers and it’s unclear what Fiserv really can add.

Do you think stablecoins can poach $2trn in bank deposits? 5 Points looks at that question this month. Also: - CUBI standing up for the good guys - $WCCB swell is coming - $SOFI vs $LC - The decline of OTC banks - What bank acquirers want Enjoy!

After Mamdani wins mayor and seizes the means of production, he can finance the socialist utopia through Carver Bank $CARV 1.07% tangible common equity 3.4% non performing loans 156% efficiency They have been following his playbook all along!

On SOFI’s trading app you can buy private equity bags “from firms including Fundrise, Cashmere and Liberty Street Advisors” but you can’t buy OTC banks like $PBAM. More discrimination against the little guy and more reason for OTC banks to uplist.

SR Bancorp $SRBK announces a 10% buyback and shares rise 6%. Is this how efficient markets are? Nobody ever picked up the phone to ask management what they think of capital return, or looked at the quarterly share counts? This is not a $CLST style operation, SR plays to win.

BREAKING: AI customer service at banks is not any good. High IQ George Gleason at $OZK knows it still starts with competent people.

As a director, you want to shoot for $SLRK status - own 0.0%, collect $120k a year.

We were promised AI would replace attorneys. Yet Capital One just paid $41 million in attorneys fees to buy Discover. One of the world’s oldest professions for better or worse.

Community banks across the southeast post pnfp:

Investment Bankers who convinced Rob and Terry at $PNFP to do this, and the insider traders who front ran it for two days

Enjoy your retirement, Jay Sidhu $CUBI

On the Customers $CUBI call, you learn what Sam Sidhu will tell you if you ask him - they are trying to build what Signature was before it needlessly grew too fast and blew up. A deposit teams focused operation with excellent incentives and technology. It can be a great model.