Hook
More breakout videos from this creator.
Zelle is going international. Yes, you heard that right. The same Zelle that you're thinking of just announced that you will soon be able to send money abroad starting with India. I know there are already so many products that allow you to send money internationally, but I wanna talk about why Zelle launching this is kind of a pretty big deal. You may know that Zelle is owned by the banks and it was literally launched as a Venmo killer. In 2016, seven banks came together to create a product that they were not going to allow technology companies to access because they were seeing the impact that they were already having on consumers. So now Zelle is going international and they're coming for everybody. The company announced that this launch is going to be powered by stable coins. And if you know anything about stable coins, this means that the money can get to India in as quick as 30 minutes. This is something that the Moneygrams and Western Unions and Lemfis and Wises of this world will charge you an arm and a leg for. But Zelle within the US is free for you and I. So if they can offer this level of speed while being embedded directly into your app, will they start charging for transactions? And will that combination be enough to kill the Moneygrams and Western Unions of this world?