Behind‑the‑scenes rails enabling Contigo

Alex Johnson of Fintech Takes and I had the chance to discuss the WILD story of Y Combinator- and Coinbase-backed Kontigo:

* Some context setting and clarifications on the difference between AML vs. sanctions and the impact of sanctions on the everyday people of the countries they’re enforced against

* Explaining Kontigo’s retail user service and its value proposition

* Talking through what also was happening behind the scenes to make Kontigo’s service possible

* The responsibility of “infrastructure” providers, like Rain, Checkbook, Bridge, and Stripe, as well as underlying bank partners, which include JPMorgan Chase and Lead Bank

* The parallels between “stablecoin infrastructure” and banking-as-a-service, including third-party risk management (TPRM)

* What lessons industry should learn from the Kontigo situation

* And, as always, what Alex and I just can’t let go of (about this story)

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