Will Open Banking eat Visa’s and Mastercard’s lunch? 🤔; Coinbase stock soars to 18-month high 🚀

FinTech is Eating the World, 27 October

Hey Everyone,

Happy Monday! We’re starting a new week by looking at whether Open Banking will eat Visa’s and Mastercard’s lunch (what’s the current status quo + lots of bonus reads and deep dives), and Coinbase whose stock just soared to an 18-month high (what’s happening + recap of their latest numbers, what’s the most important stat & why I’m bullish on them). Let’s jump straight into the fascinating stuff 🌶

Will Open Banking eat Visa’s and Mastercard’s lunch? 🤔

Zooming out 🔎 If you’re following the space actively, you know that financial technology companies have succeeded in reducing payment costs for merchants by providing cheaper and easier ways to accept payments.

However, their ability to truly disrupt the dominance of card network giants like Visa V 0.00%↑ and Mastercard MA 0.00%↑ in payment processing looks small. At least for now.

Let’s take a quick look and see what’s the status quo right now.