“If it involves money. It’ll be on our platform. Money or securities or whatever. So, it’s not just like send $20 to my friend. I’m talking about, like, you won’t need a bank account.”

Well that sounds terrifying!

  • someguy3@lemmy.ca
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    1 year ago

    I think because they’re a payment processor. Banks store large amounts of money, make loans, etc.

    • givesomefucks@lemmy.world
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      1 year ago

      It’s going to be like a crypto or PayPal wallet where you can store a balance, it’s just not insured or regulated like a bank.

      I saw an article a while ago where a concerning amount of people were doing that instead of a bank account.