The Fintech Blueprint

In this episode, Lex speaks Friederike Ernst, co-founder of Gnosis. Together, they explore the evolution of Gnosis from an Ethereum-based prediction market project into a major infrastructure provider powering over $100 billion in DAO treasuries and $10–15 billion in monthly DEX trading via CowSwap. Tracing the company’s journey from a 2017 ICO raising $12.5 million in ETH (now worth ~$450 million) to spinning out critical tools like Safe, CowSwap, and Zodiac, all originally built for internal use.Despite their success, Gnosis recognizes that the crypto-native user base is limited and has now pivoted to building user-centric, mainstream products like the upcoming Gnosis App targeting Gen Z with real-world financial utility. The company emphasizes its founding mission of democratizing financial ownership and warns against complacency as incumbents like Stripe and Robinhood enter the space. Lastly, Gnosis sees a near-term opportunity in AI-agent driven commerce, especially through reverse advertising models that could unlock trillion-dollar markets.NOTABLE DISCUSSION POINTS:The $12.5M ICO That Became a $450M Treasury: Gnosis raised $12.5 million in ETH during their 2017 ICO when ETH was trading at $40. Through conservative treasury management and holding their ETH position, that initial raise has sustained the company for nearly a decade and grown to approximately $450 million today. Friederike attributes this to “conservative treasury management and sheer luck” — a remarkable case study in long-term crypto treasury stewardship.Polymarket Runs on Gnosis Infrastructure: Despite Polymarket’s $10B+ valuation and mainstream recognition, it still uses Gnosis’s conditional token framework that was written years ago. Friederike acknowledges being “a little salty” that infrastructure they built powers such a significant share of the on-chain prediction market economy without Gnosis directly benefiting financially. It’s a stark illustration of the “first up the mountain” dynamic where pioneers clear the path but don’t always capture the value.The 19th Century German Banking Parallel: Friederike draws a compelling historical analogy: impoverished German farmers in the 1800s faced predatory moneylenders charging 25-40% interest. They responded by forming collective community banks, lending to each other at 4-6%. Within decades, tens of thousands existed, and one-third of Germans remain members today. She positions crypto’s ownership model as the modern equivalent — a cooperative financial revolution for a generation economically disenfranchised by incumbent systems.TOPICSGnosis, Gnosis Safe, CowSwap, Zodiac, CPK, Polymarket, Kalshi, ConsenSys, Ethereum, ETH, AI, AI Agents, ICO, Onchain, Governance, Crypto Treasury, Web3, Blockchain, Finance, Banking, Payments, Custody, WalletsABOUT THE FINTECH BLUEPRINT🔥Subscribe to the Fintech Blueprint newsletter to stay at the forefront of Fintech and DeFi: https://bit.ly/3hyhlC2🤝 Partner with Fintech Blueprint through sponsorships: https://bit.ly/3UZllsV👉 Twitter: https://twitter.com/LexSokolin TIMESTAMPS1’25: From Prediction Markets to On-Chain Governance: The Gnosis Journey with Friederike Ernst6’09: Early ICO Bets and Lasting Impact: How Treasury Design and Tooling Shaped On-Chain Governance14’10: Owning the Problem: Turning Internal Crypto Tools into Customer-Facing Products18’08: Beyond Crypto Natives: Building User-Friendly Blockchain Finance for the Next Billion24’34: Beyond the Noise: Staying True to Web3’s Ownership Revolution28’48: Culture as the Catalyst: Building User-Owned Financial Systems for a Disenfranchised Generation32’59: Reinventing Everyday Banking: A Self-Custodial Money App for the Postbank Era36’48: AI Agents With Wallets: Gnosis Chain as the Payment Rail for Autonomous Finance39’49: Reverse Advertising: How AI Agents Will Turn Your Attention Into a Trillion-Dollar Market Disclaimer here — this newsletter does not provide investment advice and represents solely the views and opinions of FINTECH BLUEPRINT LTD.Contributors: Lex, Laurence, Matt, Farhad, Mike, DaniellaWant to discuss? Stop by our Discord and reach out here with questions.

In this episode, Lex speaks with David Namdar - CEO of the BNB Network Company, kicking off with his journey from early Bitcoin adoption in 2012 to co-founding Galaxy Digital and now leading the BNB Network Company. Namdar explains the evolution of public markets’ engagement with crypto, highlighting how regulatory hurdles and speculative cycles shaped market participation. He outlines the rise of Digital Asset Treasury (DAT) companies, crediting Michael Saylor’s MicroStrategy for pioneering the model by converting $400 million in cash to Bitcoin - now holding over $75 billion in BTC. We examine how Binance, with 290 million users and 40% of global crypto volume, supports BNB as a deflationary asset, burning up to $2 billion per quarter. Finally, Namdar shares why BNB, not Bitcoin, is the focus of his new DAT initiative, offering U.S. investors exposure to an underrepresented but powerful asset.NOTABLE DISCUSSION POINTS:Digital Asset Treasuries Are Emerging as Crypto ETFs in Disguise: Public companies like MicroStrategy and MetaPlanet are turning their balance sheets into crypto holdings, offering indirect exposure to Bitcoin, Ethereum, and BNB. This model is attracting billions and creating a new on-ramp for investors -especially where ETFs or direct access are limited.BNB Is Massively Used Yet Underrepresented in U.S. Markets: With 290 million users and up to $2B in quarterly token burns, BNB is one of the most used tokens globally. Yet it’s largely inaccessible to U.S. investors, creating a major disconnect and a potential opportunity for BNB-focused public vehicles.Crypto Booms Often Rely on Misunderstood, Unsustainable Incentives: Namdar highlights how past cycles inflated demand through staking rewards and nominal yields, not real value. A lack of economic literacy continues to fuel hype over fundamentals, risking long-term sustainability. TOPICSBNB Network Company, Binance, BNB, Galaxy Digital, SolidX Partners, MicroStrategy, Bitcoin, Bitcoin treasury, Ethereum, Digital Asset Treasury, DAT, treasury, crypto, convertible debt, tokenomics, crypto treasury, capital markets ABOUT THE FINTECH BLUEPRINT🔥Subscribe to the Fintech Blueprint newsletter to stay at the forefront of Fintech and DeFi: https://bit.ly/3hyhlC2🤝 Partner with Fintech Blueprint through sponsorships: https://bit.ly/3UZllsV👉 Twitter: https://twitter.com/LexSokolin TIMESTAMPS1’09: Building the Crypto Investment Bank: Taking Digital Assets to Public Markets4’43: Why Going Public Matters: Crypto Firms, Capital Access, and Market Credibility7’28: From Fintech to DeFi: How U.S. Markets Mispriced the Crypto Transition11’07: Real Yield vs. Hype: Why Crypto Markets Keep Getting It Wrong14’36: The Rise of Digital Asset Treasuries: How Crypto Became a Corporate Balance Sheet Strategy18’28: Financial Engineering in Crypto Treasuries: How Convertible Debt Fueled Massive Bitcoin Accumulation22’23: Boom, Hype, Exhaustion: The Capital Cycle Behind Crypto Treasuries28’52: From Foundations to Public Markets: Why BNB Is the Next Big Treasury Bet33’25: BNB by the Numbers: Inside the Tokenomics of the World’s Largest Crypto Exchange39’18: Premiums, Discounts, and Buybacks: Managing Value in Crypto Treasury Stocks44’41: The channels used to connect with David & learn more about BNB Network Co. Disclaimer here — this newsletter does not provide investment advice and represents solely the views and opinions of FINTECH BLUEPRINT LTD.Contributors: Lex, Laurence, Matt, Farhad, Mike, DaniellaWant to discuss? Stop by our Discord and reach out here with questions.

Jess Houlgrave, CEO of WalletConnect and an expert in blockchain and payments, discusses the transformative journey of WalletConnect from a simple UX fix to a $400B Web3 connectivity layer. They explore the challenges of integrating traditional finance with Web3 and the rising importance of stablecoins in on-chain commerce. Jess emphasizes the role of fintechs in driving crypto usability through seamless experiences and regulatory compliance. Insights on WalletConnect’s token economics and decentralization plans reveal the future of decentralized finance.

In this episode, Lex speaks  Mike Sha - the CEO and co-founder of Tandems (formerly SigFig), a leading provider of AI-powered software for wealth management firms and financial institutions. Together, Lex and Mike discuss the evolution of wealth technology through the lens of Mike’s entrepreneurial journey from founding Wikinvest in 2006 to building Tandems. Wikinvest pivoted to portfolio tracking and then to a B2B model, powering major portals like Yahoo Finance and managing over $500 billion in tracked assets. The team’s insights into poor retail investment behavior led to building SigFig, a B2B robo-advisor, eventually serving banks like UBS and Wells Fargo.Today, rebranded as Tandems, the firm offers AI-powered tools for advisors across three key areas: meetings, asset gathering, and investment management, with AI integrated via a modular “wealth OS” platform. Tandems uses an open architecture for AI, prioritizing trust, configurability, and high accuracy tailored to the specific workflows of financial advisors. NOTABLE DISCUSSION POINTS:The Realization That Most Investors Struggle on Their Own Sparked the Robo-Advisory Movement - Mike Sha’s early data from tracking $400–500 billion in retail portfolios across Yahoo!, CNN, and other finance portals revealed that most individuals consistently underperform when managing their own investments. This insight directly led to the creation of SigFig, one of the first robo-advisors, designed to make high-quality investment advice affordable and automated. It shows how data-driven observation of user behavior can uncover market inefficiencies and spark new product categories.Distribution and Integration Trumps Pure Innovation in Fintech Partnerships - Tandem’s evolution from a consumer-facing platform to a B2B software provider for major banks underscored a critical lesson: distribution and trust are the hardest parts of scaling in financial services. Rather than trying to replace institutions, Sha’s team embedded within them - learning that success requires deep integration with legacy systems and respect for the bank’s compliance and operational frameworks. The “secret” to working with large financial institutions, Sha notes, is understanding their old infrastructure and designing around it - not fighting it.AI’s Real Impact in Wealth Management Will Begin with Eliminating Repetitive Work - Tandem’s current strategy focuses on AI automation for financial advisors, not as a replacement but as an assistant. Sha highlights that over 90% of an advisor’s day involves repetitive administrative work - meeting prep, paperwork, compliance, follow-ups. Tandem’s “Wealth OS” connects legacy systems and uses AI to automate these tasks first, freeing advisors to focus on human relationship-building and advice. It’s a practical and near-term vision of AI in finance: efficiency before intelligence. TOPICSTandems, SigFig, Wikinvest, wealthtech, wealth management, fintech, ai, artificial intelligence, investment, roboadvisors, finance, financial management, banking, bank partnerships ABOUT THE FINTECH BLUEPRINT🔥Subscribe to the Fintech Blueprint newsletter to stay at the forefront of Fintech and DeFi: https://bit.ly/3hyhlC2🤝 Partner with Fintech Blueprint through sponsorships: https://bit.ly/3UZllsV👉 Twitter: https://twitter.com/LexSokolin TIMESTAMPS1’31: From Wikis to Wealth Tech: Mike Sha on How 401(k)s and “Investing-as-a-Chore” Shaped Tandems7’05: Building a Fintech from the First Dot-Com Boom: The Origins of Tandem’s Founding Partnership10’46: Turning Drive-By Traffic into Real Investors: The SEO Strategy That Sparked a $500B Fintech Shift16’25: Following the Money: How Tandems Scaled Through Bank Partnerships and the Hidden Art of Integrating Legacy Systems21’58: Inside the Fintech–Bank Power Dynamic: Lessons from Partnering with UBS and Navigating the Enterprise Maze25’36: Scaling Smart: How Tandems Grew from 25 to 100 People by Blending Finance, Software, and Global Talent29’55: Beyond Robo-Advisors: How Tandems Rebranded to Tackle Wealth Management’s “Unsexy” Problems with AI34’02: AI for Advisors: Automating the 90% of Work They Don’t Want to Do39’32: Open Architecture, Not One Model: How Tandem Builds Reliable AI for Financial Institutions43’53: The channels used to connect with Mike & learn more about Tandems Disclaimer here — this newsletter does not provide investment advice and represents solely the views and opinions of FINTECH BLUEPRINT LTD.Contributors: Lex, Laurence, Matt, Farhad, Mike, DaniellaWant to discuss? Stop by our Discord and reach out here with questions.

In this episode, Lex speaks with Marcelo Ruiz de Olano, Co-Founder of KPK (Karpatkey), an on-chain asset management firm born out of Gnosis DAO. Marcelo recounts KPK’s evolution from stewarding Gnosis’s $1B treasury to advising on more than $2B for leading protocols like ENS, Balancer, and the Ethereum Foundation. The discussion dives into the mechanics of non-custodial treasury management - balancing governance, security, and risk - along with strategies across lending, liquidity provision, and stablecoin yields. Marcelo also shares why the rise of large Ethereum treasury companies could be a turning point for DeFi, injecting institutional-scale liquidity and potentially making ETH more liquid than Bitcoin. NOTABLE DISCUSSION POINTS:Origins and Scale of On-Chain Treasury ManagementKPK spun out of Gnosis DAO, which had one of the earliest and largest on-chain treasuries (~$1B). From there, KPK evolved into an independent manager now advising on over $2B of DAO and foundation treasuries (ENS, Balancer, Ethereum Foundation, etc.), pioneering non-custodial, fully on-chain asset management practices.Conservative, Mission-Driven Approach vs. Yield-ChasingUnlike many DeFi actors during “DeFi Summer,” KPK deliberately rejected risky high-yield strategies. Instead, they prioritized capital preservation and mission alignment—for example, ensuring ENS’s treasury only supports Ethereum-strengthening initiatives (like minority client staking or avoiding centralization risks). This contrarian, values-driven approach built trust and positioned them as long-term stewards of DeFi treasuries.Transformative Potential of Ethereum Treasury CompaniesMarcelo highlights that emerging Ethereum treasury firms (similar to MicroStrategy’s BTC play) could deploy $10B+ in ETH treasuries. A single such “mega whale” could inject unprecedented liquidity into DeFi—making ETH potentially more liquid than BTC, bootstrapping entire verticals (DEX liquidity, lending, insurance), and creating a flywheel where treasury strategies directly accelerate Ethereum’s adoption and price stability. TOPICSKPK, Gnosis, Gnosis Safe, Balancer, Aave, Maker, Sky, Uniswap, Morpho, Ethereum Foundation, on-chain asset management, DAO, decentralized autonomous organization, treasury management, DeFi, tokenization, ETH, Ether, stablecoin, USDC ABOUT THE FINTECH BLUEPRINT🔥Subscribe to the Fintech Blueprint newsletter to stay at the forefront of Fintech and DeFi: https://bit.ly/3hyhlC2🤝 Partner with Fintech Blueprint through sponsorships: https://bit.ly/3UZllsV👉 Twitter: https://twitter.com/LexSokolin TIMESTAMPS1’08: From Gnosis to KPK: Building the Infrastructure for On Chain Treasury Management8’00: Playing It Safe: How KPK Built Long Term DeFi Strategies in a Risk Obsessed Market11’50: DeFi Lending Unlocked: How KPK Assesses Risk and Builds Yield Strategies with Stablecoins and Leverage17’11: Treasury Playbooks: Matching DeFi Investment Strategies to Risk Profiles and DAO Values20’32: Stablecoin Farming and DAO Drama: Navigating Risk, Governance, and Community Conflicts23’18: From Impermanent Loss to Long Term Gain: Liquidity Provision and the Case for OG DeFi Protocols26’33: Behind the Smart Contracts: Why Human Ops and Governance Still Run On Chain Asset Management30’11: The Rise of Ethereum Treasury Companies: How On Chain Giants Will Supercharge DeFi Liquidity and Revenue36’34: The Ten Billion Dollar Whale: How Ethereum Treasury Giants Could Reshape Liquidity and Supercharge DeFi40’51: The channels used to connect with Mercelo & learn more about KPK Disclaimer here — this newsletter does not provide investment advice and represents solely the views and opinions of FINTECH BLUEPRINT LTD.Contributors: Lex, Laurence, Matt, Farhad, Mike, DaniellaWant to discuss? Stop by our Discord and reach out here with questions. Disclaimer here — this newsletter does not provide investment advice and represents solely the views and opinions of FINTECH BLUEPRINT LTD.Contributors: Lex, Laurence, Matt, Farhad, Mike, DaniellaWant to discuss? Stop by our Discord and reach out here with questions.

In this episode, Lex speaks with Ravi Adusumilli - President and GM of the Americas at Airwallex. Ravi and Lex discuss how Airwallex has evolved into a global financial platform by offering businesses an integrated suite of cross-border payments, treasury, and banking services. Founded in 2015, Airwallex now supports 150,000 customers, processes $130 billion in annualized volume (up 73% YoY), and projects a $1 billion revenue run rate by year-end.The company’s success stems from its end-to-end infrastructure, homegrown payment rails, and multi-product strategy, with 80% of revenue now coming from customers using more than one product. Airwallex differentiates itself by focusing on global-first B2B use cases and building regional autonomy alongside centralized infrastructure. While not prioritizing stablecoins today, the company is exploring AI-driven financial operations and aims to reach $1 trillion in transaction volume by 2030. NOTABLE DISCUSSION POINTS:Airwallex’s Infrastructure: Proprietary Global Payment NetworkAirwallex operates a proprietary global payment infrastructure that processes 95% of its $130 billion in annualized transaction volume. The company has developed its own technology and regulatory framework in partnership with over 60 banks worldwide. This approach reduces dependence on legacy systems such as SWIFT and supports greater control over transaction speed, cost, and compliance.Expansion Through Multi-Product OfferingAirwallex has expanded its services beyond cross-border payments to include card issuance, spend management, treasury functions, and merchant acquiring. According to company data, 80% of revenue is generated from customers using multiple products. Payments now account for 70% of net revenue and are growing at three times the rate year over year.Decentralized Go-To-Market StructureAirwallex employs a regional management model, with General Managers responsible for performance and operations in specific geographies. This structure is supported by centralized functions such as product development, compliance, and engineering. With 1,700 employees in 26 offices, the company uses this hybrid model to manage growth and adapt to local regulatory environments across multiple regions, including Latin America and Asia-Pacific. TOPICSAirwallex, Stripe, Brex, Rippling, Shopify, Pinterest, Visa, fintech, global payments, e-commerce, cross-border transactions, paytech, embedded payments, CFO stack, stablecoins, AI ABOUT THE FINTECH BLUEPRINT🔥Subscribe to the Fintech Blueprint newsletter to stay at the forefront of Fintech and DeFi: https://bit.ly/3hyhlC2🤝 Partner with Fintech Blueprint through sponsorships: https://bit.ly/3UZllsV👉 Twitter: https://twitter.com/LexSokolin TIMESTAMPS1’02: Building Through Partnerships: The Platform Strategy Behind a $130B Fintech7’24: Why It’s Working: Scaling B2B Payments in a Crowded Fintech Market12’21: From Coffee Beans to Global Rails: How Cross-Border Payments Became the Wedge for Platform Expansion19’02: Sticky by Design: How Regional Autonomy and Multi-Product Depth Drove Global Expansion25’31: From Credibility to Scale: When Partnerships Start Driving Growth29’33: Beyond Point Solutions: Why Global Platforms Are Replacing Fragmented Payment Stacks34’47: Solving the CFO Stack: A Unified Approach to Global Money Movement38’14: Resilient by Design: How Airwallex Manages Multi-Bank, Multi-Market Complexity42’51: The Hidden Cost of Scale: Inside the Engineering Behind a $130B Network46’15: The Next Phase: Airwallex’s Vision for a Global Financial OS49’54: The channels used to connect with Ravi & learn more about Airwallex Disclaimer here — this newsletter does not provide investment advice and represents solely the views and opinions of FINTECH BLUEPRINT LTD.Contributors: Lex, Laurence, Matt, Farhad, Mike, DaniellaWant to discuss? Stop by our Discord and reach out here with questions. Disclaimer here — this newsletter does not provide investment advice and represents solely the views and opinions of FINTECH BLUEPRINT LTD.Contributors: Lex, Laurence, Matt, Farhad, Mike, DaniellaWant to discuss? Stop by our Discord and reach out here with questions.

Lex chats with Matthew Le Merle - CEO of Blockchain Coinvestors, a leading blockchain and AI fund-of-funds. He reflects on the limitations of large institutions in adopting disruptive technologies and why he chose to back innovators over incumbents, using stablecoins as an example of asymmetric value creation. Le Merle explains his evolution from angel investor to institutional LP, highlighting the benefits of leveraging top-tier venture capitalists’ expertise in inefficient early-stage markets. He outlines the psychological challenges of venture investing, where failures appear early and outsized wins often take a decade, contrasting this with the faster liquidity but higher existential risk in token markets. Finally, he critiques institutional allocators for over-relying on efficient markets, under-allocating to venture despite its role in driving future value, and positions his strategy as fully committed to early-stage blockchain and AI as the highest-returning segments. NOTABLE DISCUSSION POINTS:1. Innovation Threatens Incumbents, Benefits Disruptors: Major technological shifts, from the internet to blockchain and AI, create winners and losers. Incumbents often resist disruptive change because it threatens existing revenue models, while nimble startups and tech-first companies can rapidly capture new market opportunities.2. Venture Success Requires Navigating High Failure Rates: In early-stage investing, most portfolio companies will fail, often within the first 3–4 years. Returns are driven by a small number of outsized successes, usually via acquisitions rather than IPOs, requiring patience, resilience, and a disciplined investment strategy.3. Inefficient Markets Offer the Greatest Asymmetric Upside: Early-stage venture and emerging technologies like blockchain and AI are inefficient markets where superior access, insight, and execution can generate returns far above those available in traditional, efficient markets like public equities or bonds. TOPICSBlockchain Coinvestors, Band of Angels, AngelList, Blockchain Capital, Pantera, Sequoia, Andreessen, BlackRock, Fidelity, Blockchain, DeFi, Decentralized Finance, Investment, Venture Capital, Angel Investment, Fund of Funds ABOUT THE FINTECH BLUEPRINT🔥Subscribe to the Fintech Blueprint newsletter to stay at the forefront of Fintech and DeFi: https://bit.ly/3hyhlC2🤝 Partner with Fintech Blueprint through sponsorships: https://bit.ly/3UZllsV👉 Twitter: https://twitter.com/LexSokolin TIMESTAMPS1’33: From Consulting to Disruption: Matthew Le Merle on Pivoting from Advising Incumbents to Backing the Innovators9’56: From Angel Checks to Global Funds: Building One of the World’s Largest Blockchain Co-Investment Platforms16’50: Leveraging Top Venture Funds to Capture Blockchain and AI’s Biggest Winners: Evolving from Direct Deals to an LP Strategy24’50: The Emotional Reality of Venture Investing: Coping with Early Failures, Long Timelines, and Rare Big Wins32’13: Early Liquidity, Higher Risk: Why Most Token Projects Fail Without Ever Delivering Software35’20: Backing Winners in Inefficient Markets: What Makes a Venture Fund Worth Investing In42’59: Why Institutional Portfolios Miss the Future: The Case for Shifting Capital from Efficient to Inefficient Markets51’08: The channels used to connect with Matthew & learn more about Blockchain Coinvestors Disclaimer here — this newsletter does not provide investment advice and represents solely the views and opinions of FINTECH BLUEPRINT LTD.Contributors: Lex, Laurence, Matt, Farhad, Mike, DaniellaWant to discuss? Stop by our Discord and reach out here with questions. Disclaimer here — this newsletter does not provide investment advice and represents solely the views and opinions of FINTECH BLUEPRINT LTD.Contributors: Lex, Laurence, Matt, Farhad, Mike, DaniellaWant to discuss? Stop by our Discord and reach out here with questions.

Lex chats with Harish Natarajan - Practice Manager, Financial Inclusion and Infrastructure, Finance, Competitiveness & Innovation at the World Bank, and Carlos Brandt - The Senior Advisor for Pix at the Central Bank of Brazil. Together they discuss the remarkable success of Pix, Brazil's real-time payment system, which now sees over 6 billion transactions per month and is used by more than 90% of the adult population and 80% of companies. Lex explores how Pix was created by the Central Bank of Brazil with strong public-private collaboration, backed by regulatory authority and supported by a co-creation model with stakeholders. Key to its adoption were a low-cost centralized infrastructure, clear branding, mandatory participation by large banks, and a robust national communication strategy. Globally, Pix is seen as a leading example of fast payment system deployment, driven by the central bank acting as a neutral coordinator and scheme owner. Lex also examines the technical architecture, built in-house by a surprisingly small team of 55–65 people, and how scalable infrastructure and extensibility have enabled rapid growth and innovation. NOTABLE DISCUSSION POINTS: 1. Pix achieved mass adoption through public-private co-creation and legal mandate:Pix now processes over 6 billion transactions per month, with 90% of Brazil’s adult population and 80% of businesses actively using it. Its success stems from a strategic legal mandate in 2013 granting the Central Bank regulatory and operational authority over retail payments. The Central Bank then led a co-creation process involving both public and private stakeholders through the Pix Forum, fostering alignment, inclusivity, and strong network effects.2. A lean but powerful team built a nation-scale real-time payments system:The Pix infrastructure was built entirely in-house by a relatively small team, 30-40 people for the technical infrastructure layer and around 25 for the payment scheme layer. It operates 24/7 with real-time settlement and uses centralized infrastructure separate from Brazil’s traditional large-value payment rails. This centralized, purpose-built architecture dramatically lowered costs and enabled rapid rollout.3. Strategic communication and mandated participation drove adoption at scale:The Central Bank led a national communication campaign to build trust, establish a strong brand identity, and educate the public. Simultaneously, it mandated major banks (with over 500,000 active accounts) to join Pix, triggering widespread voluntary adoption from smaller PSPs. The rollout included a restricted pilot phase and emphasized user-friendly features like QR codes and aliases to boost convenience and usage from day one. TOPICS Pix, Central Bank of Brazil, World Bank, Visa, Citibank, M-Pesa, Alipay, SPI, fintech, payments, PSP, API, Fast Payments, Payments Infrastructure, PayTech ABOUT THE FINTECH BLUEPRINT 🔥Subscribe to the Fintech Blueprint newsletter to stay at the forefront of Fintech and DeFi: https://bit.ly/3hyhlC2 🤝 Partner with Fintech Blueprint through sponsorships: https://bit.ly/3UZllsV 👉 Twitter: https://twitter.com/LexSokolin TIMESTAMPS 1’19: Building Pix from the Ground Up: Carlos Brandt on Modernizing Brazil’s Payment Infrastructure 3’03: Fast Payments for Financial Inclusion: Harish Natarajan on the World Bank’s Role in Modern Payment Infrastructure 4’29: From Cash to 5 Billion Transactions a Month: How Pix Transformed Brazil’s Payment Ecosystem Through Public-Private Collaboration 10’41: Why Pix Succeeded Where Others Struggled: The Power of Neutral Coordination and Public-Private Synergy 12’40: Inside the Pix Forum: How Brazil Built a Collaborative Process for Payment Innovation 15’07: Fast Payments at Scale: Market Coordination, Infrastructure, and Global Lessons from Pix 20’55: Engineering Pix: How a Small Team Built Brazil’s 24/7 National Payments Infrastructure from Scratch 27’28: Driving Nationwide Adoption: How Strategic Communication and Mandates Powered Pix’s Rollout Across Brazil 34’14: Scaling for Success: Why Communication, Extensibility, and API Design Are Key to Evolving Payment Systems 37’23: Building Trust Through Cooperation: How Regulators Can Foster Innovation While Balancing Public and Private Interests 40’06: The channels used to connect with Carlos & learn more about The Central Bank of Brazil. 40’39: The channels used to connect with Harish & learn more about The World Bank Disclaimer here — this newsletter does not provide investment advice and represents solely the views and opinions of FINTECH BLUEPRINT LTD.Contributors: Lex, Laurence, Matt, Farhad, Mike, DaniellaWant to discuss? Stop by our Discord and reach out here with questions.

Lex speaks with Ali Niknam, CEO and founder of Bunq, a leading European neobank. Ali shares Bunq’s journey from its founding during the financial crisis to becoming Europe’s second-largest neobank. The conversation explores Bunq’s user-centric philosophy, innovative products, and unique organizational design. Ali discusses overcoming regulatory challenges, prioritizing cultural values, and fostering accountability within teams. The episode also examines the complexities of the European fintech landscape and Bunq’s mission to revolutionize banking by focusing on user needs and continuous improvement. MENTIONED IN THE CONVERSATION Topics: Bunq, ING, Revolut, Betterment, Synapse, TransIP, Fintech, banking, crypto, neobank, challenger bank, culture, Europe, VC ABOUT THE FINTECH BLUEPRINT 🔥Subscribe to the Fintech Blueprint newsletter to stay at the forefront of Fintech and DeFi: https://bit.ly/3hyhlC2 🤝 Partner with Fintech Blueprint through sponsorships: https://bit.ly/3UZllsV 👉 Twitter: https://twitter.com/LexSokolin TIMESTAMPS 1’09: Bunq’s Bold Mission: Ali Niknam on Reinventing Banking for the Modern User 6’27: Building from the Core: Why Bunq Chose the Hard Road to Reinvent Banking 10’08: Bootstrapped Banking: Building Bunq Without External Capital or Compromise 13’56: Launching the Future: Bringing Innovation to Market with Bunq’s First 45-Person Team 17’35: From Payments to Personalization: How Users Drove a Decade of Product Innovation 19’52: Designing for Eva: How Bunq Rebuilt Its Organization Around the User, Not the Org Chart 22’02: Beyond Titles: How Bunq’s Ownership-Driven Culture Redefines Teams, KPIs, and Hierarchy 28’14: Culture Over Compensation: How Bunq Attracts Mission-Aligned Talent Without Relying on Equity 35’06: Europe’s Tech Paradox: Why Innovation Thrives Despite Fragmentation—and What Must Change 39’11: The channels used to connect with Ali & learn more about Bunq 43’07: The channels used to connect with Edward & learn more about Zerohash  Disclaimer here — this newsletter does not provide investment advice and represents solely the views and opinions of FINTECH BLUEPRINT LTD.Contributors: Lex, Laurence, Matt, Farhad, Mike, DaniellaWant to discuss? Stop by our Discord and reach out here with questions.

In a fascinating discussion, Edward Woodford, CEO of Zerohash, an embedded crypto platform, shares insights on the explosive growth of stablecoins, which now account for over 50% of their volume. He highlights regulatory shifts that are paving the way for institutional adoption of crypto. Edward delves into the convergence of brokerage and payments, revealing how banks are embedding stablecoin infrastructure. The conversation also touches on the necessity for collaboration between fintechs and traditional finance to navigate usability challenges and regulatory clarity.