Corporate strategy of @USDC update:
Phase 1: digitize the dollar
Phase 2: put the dollar on the internet
Phase 3: make the internet dollar globally accessible
Phase 4: accidentally reinvent Venmo but global
If the internet is global,
and dollars are the world's dominant unit of account,
then internet-native dollars seem pretty inevitable.
USDC is the global Venmo.
USDC is the global Venmo.
This is either one of the most obvious ideas in fintech history
or an extremely elaborate way to avoid saying
“internet dollars.”
Venmo was:
“Send money to your friends.”
USDC is:
“Send money to anyone with an internet connection.”
The product roadmap was apparently just “make Venmo global.”
professional assessment:
USDC appears to be positioning itself as a globally accessible digital dollar rail capable of peer-to-peer transfer and internet-native settlement.
less professional assessment:
global Venmo go brrrr