Show HN: Borderless Venmo
eth.cashStablecoins are one of the few areas in crypto where end users receive value, other than speculation This wasn’t always the case, but for years people speculated that it would be the holy [grail of internet currency.](https://news.ycombinator.com/item?id=14026339) Now that TVL is in the hundreds of billions, and volume in the tens of billions, [governments](https://news.ycombinator.com/item?id=29071895) and [the fed](https://news.ycombinator.com/item?id=30167748), are realizing that there’s actually something here.
Stablecoins will disrupt many ways of value transfer, the area we’re focused on, and sharing with you all today, is making it easy to send to anyone. Users don’t need a wallet address to receive funds, gas for tx costs, low fees to on/offramp and can go from bank account to bank account — in over 40 countries.
Let us know what you think!
For a finance app - some basics are missing:
1) Who are the people/organization behind it.
2) What are the list of countries (40?), and banks associated.
3) What is the insurance/security for funds held.
These are key data for you to build trust for any user to touch you.
The website says nothing about who's behind it, no ToS, no privacy policy. 3rd party content on the app subdomain includes twitter ads + three domains I've never seen before. All my instincts tell me not to trust this in the slightest.
There’s a reason why so few borderless payment systems exist... Welcome to the fascinating world of AML/KYC compliance. Anyway, good luck - I’m rooting for you.
Big if true
Big if true