Neobanks had a spend volume of over $1.11b last month. The top 3 cards @RedotPay, @ether_fi, @KASTxyz account for 55% market share. This is less concentrated than, for instance, Lending, where the top 3 account for 66%, leaving room for new providers to try to compete.

Neobanks have their best fits in emerging markets. Why? Easy - in those markets, the native currency is often wildly unstable. People want to keep their savings in dollars, but you can't use USD to buy bread. With stablecoin-denominated neobanks, you can.

More neobanks crypto cards projects need to adopt and run these spend-and-unlock rewards to lure users over. Personally think this is a super solid user acquisition strategy ​$500 bonus for depositing $25k + spending $10k within 90 days (effectively 5% cashback) I cleared it in a month

Crypto neobanks are the best Now I can increase my USDC reserves from my onchain shitcoin profits, sent it to the crypto debit card and buy stuff IRL Using magic internet money to buy physical items = means the items are free right? #BoyMath#

more neobanks should be focused on the b2b market, not consumers. the consumer market is increasingly crowded and the bar to compete is getting much lower. all a consumer needs is: > a visa card > some yield > a virtual account to move fiat in and out but businesses have much more complex financial needs: > expense management > employee cards > different permissions > multi-entity management > payroll > accounting integrations + a lot more that makes the product significantly harder to build, but that complexity IS the moat. I could probably list about 50 large consumer neobanks. but only a handful are doing global business banking really well. and the economics are much better. one good business customer can generate the volume of hundreds or even thousands of consumers. there are 7M businesses in the US and 350M globally (with more entities created this past year than ever before) b2b > b2c.

These 8 onchain neobanks showed growth in spending volume over the last 7 days - EtherFi Cash - Plasma One - Ethena Pay - Bleap - Kolo - Tuyo - Hyperbeat - BFinance According to PaymentScan & DeFiLlama, users of these projects spent ~$45.26M over the past 7 days This is no coincidence Which card did you use?

The first wave of neobanks in crypto ended badly. Deposits held by the company, IOUs to users, FTX era lessons learned the hard way. @TimHaldorsson and @Alex__Radu from @pulsarmoneyapp on where the space has landed since then: non-custodial infrastructure where users own their funds directly, wrapped in an experience as simple as signing up with an email. No private key anxiety. No crypto complexity. Just ownership that means something.

What exactly are neobanks? It's simple - they're the retail-facing side of neofinance, the guys who serve consumers that want 4-5% interest, but don't know how to use Metamask. In short, they're how your average normie will eventually interact with this space

one of the biggest disadvantages neobanks have compared to traditional banks is that they can’t easily generate revenue from customer deposits. traditional banks have the ability to monetize deposits and earn 2-3% annually on their AUM. most neobanks don’t have that same luxury unless they go through the complexity of launching their own stablecoin. my good friend @mannyornothing built @blend_money to give neobanks a much easier way to monetize customer balances. Blend allocates idle balances to t-bills, money market funds, DeFi yield and other interest-generating assets, while the user still gets one normal spendable account on the front end. if the user wants to spend on a card, send a payment, or make a withdrawl, Blend instantly pulls liquidity back so the balance stays fully usable at all times. the user gets the same checking account experience, except the idle balance is now a revenue generator for the neobank. if you have $100M sitting across customer balances and can generate even a 2% spread on that capital, that’s $2M in additional annual revenue without changing the core customer experience. if you’re building a neobank, treasury product or earn account, highly recommend speaking with @mannyornothing / @criptolawyer.