Mark Moss
👤 SpeakerAppearances Over Time
Podcast Appearances
But how much is that, though, Tom?
Business 101, if there is a fat margin to be made, competition will come and eat the margin.
That's just the way it works.
But they did have Amex come in.
They did have Discover come in.
But now they've also had PayPal, BNPL.
So they are having lots of competition.
And now we're seeing stable coins that will start taking over.
I think they do have some competition, but they have the benefit of owning the network.
And, you know, owning a network is where you reap the rewards.
What did you say, Tom?
The toll booths.
I mean, there are, but they're through the banks.
So they're credit card banks because the credit card bank is still issuing the credit.
So they still need them.
Yeah, it's still a credit product.
So like Gemini, for example, released one, right?
Or Coinbase released one, but it's with a major issuer.
I think Coinbase is through Amex, I believe.
So they use a credit issuer for that.