In this episode, I sit down with Mike Kytka from MoneyFlow Research (@moneyflowinvest), one of the most thoughtful independent investors covering cross-border payments, fintech infrastructure, and the rapidly evolving stablecoin landscape. Using Wise as our focal point, we explore where the company truly stands today: its moat, its regulatory advantage, its recent financial performance, and whether the market is misunderstanding the long-term potential and economics of building a global payments network.
We also unpack the big question looming over Wise: How disruptive will stablecoins actually be? From the “full stablecoin sandwich” to regulatory frameworks like the GENIUS Act and MiCA, Mike walks through what really matters – the on- and off-ramps, the compliance stack, and why the hardest part of moving money isn’t the blockchain, but everything around it.
We close with a look toward 2026: a potential U.S. uplisting, AI, valuation debates, and what a bull case for Wise could look like in a world where stablecoins go mainstream. Links to Mike’s two Wise write-ups:
Initial write-up by Mike:
2024 Update:
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