The Bank of Banks Concept: 'SoFi is not building a bank' — The Future of SoFiUSD Part 8🚀

Last time, we looked at how Visa, Mastercard, Stripe, Circle, and others are competing over the next generation of financial infrastructure.

So, what is SoFi aiming for?
Is it just a bank, a stablecoin issuer, or a payment company?

In conclusion,it is highly likely that SoFi is aiming to be a 'financial infrastructure company' that financial institutions, fintechs, and corporations can utilize.

I have tentatively named this the'Bank of Banks concept.'Looking at SoFi's current moves, every piece seems to be heading in that direction.

<Is a bank really just banking?>
When we hear the word 'bank,' we usually think of deposits and loans. However, in reality, much of a bank's work happens behind the scenes.

Account management, identity verification, remittances, payments, clearing, fund transfers, compliance, fraud detection, accounting... these are all necessary to provide financial services. In other words, a bank is amassive engine that supports countless financial processes.

Furthermore, current financial services require fraud detection, anti-money laundering measures, regulatory compliance, and 24/7 stable operation, and the level of demand for these is increasing year by year.

That is why many financial institutions and companies do not build their own banking functions from scratch, but rather require existing financial infrastructure. This creates a huge business opportunity.

<The gateway held by Galileo>
Galileo is not just a payment system.

Debit cards, account management, balance inquiries, remittances, card issuance, and fraud detection,it is a financial platform that provides these via API.

For example, if a fintech company wants to build a new banking app, they can just use Galileo. Galileo acts like an 'OS for financial services.'

<Technisys brings the bank itself to the cloud>
If Galileo is the gateway, Technisys is the core of the bank.

Deposit management, core banking systems, customer data management, product management, loan management, etc.,traditionally, banks have continued to use massive systems built decades ago.

Technisys rebuilt this to be cloud-native. They turned the bank itself into software.

And by combining Galileo and Technisys, they can now provide everything from the front end to the back end of financial services in one go. This is an overwhelming strength that a mere bank does not have.

<The meaning of a commercial banking license>
And SoFi has another weapon: a 'commercial banking license.'

SoFi owns a bank itself. It can accept deposits and hold loans. And it can access the FRB master account directly.

This is the decisive difference between it and many fintech and crypto-related companies. It is because they are a company that provides financial services while also owning the financial infrastructure itself.

<The final piece completed by SoFiUSD>
SoFiUSD is added here. Many people think of SoFiUSD as just a stablecoin. However,what is important is that it is a 'device that connects fiat currency and blockchain.'

In the future, many financial processes will take place on a common network called blockchain. In other words, it is a world wherefinancial assets themselves move while remaining digital.And they only return to fiat currency when necessary, such as for salary or tax payments.

What is needed at that time is not just banks. It is not just stablecoins. It is an entity that safely connects the two.

SoFi and SoFiUSD will take on that role.

<Big Business Banking what it means>
Even more interesting is Big Business Banking. This is not just a corporate banking service; it aims to provide necessary banking functions to companies and financial institutions only when they are needed.

And this is where digital assets become important. As we have seen, the financial industry is moving not toward the 'digitization of payments,' but toward the 'digitization of assets themselves.'

Fiat currency, deposits, loans, bonds—in the future, these may be treated as tokens (digitized rights managed on a blockchain). If that happens, it will no longer be enough for companies and financial institutions to simply manage bank accounts.

A foundation will be needed to manage fiat currency and digital assets simultaneously, and to move and settle them freely. SoFiUSD can become a key piece for that.

Big Business Banking is not just a corporate banking service. It can become the foundation for financial institutions and companies to transition into the digital asset era.

What SoFi is aiming for is to be the entity used behind the scenes of financial services provided by other companies. That is the essence of the 'Bank of Banks' concept.

<What is truly important is not just SoFiUSD>
It is not just about 'whether SoFiUSD will succeed.' What is important is the financial infrastructure strategy behind SoFiUSD, and the financial OS that SoFi is trying to build.

Galileo, Technisys, SoFi Bank, Big Business Banking, and SoFiUSD... While these may look like separate businesses at first glance, I believe they are actually all pointing in the same direction.

That is why I do not see SoFiUSD as just a new product announcement. I see it as part of a larger strategy aimed at restructuring the entire financial industry.

However, one question remains here. How much impact will the 'Bank of Banks' concept have on SoFi's corporate value?

Galileo, Technisys, SoFi Bank, Big Business Banking, and SoFiUSD. When these pieces are connected, what kind of revenue will SoFi generate, and how large a market could it potentially capture?

SoFiUSD, in particular, is the part that deserves the most attention. How far will the stablecoin market expand in the future? What kind of position can SoFiUSD aim for within that?

And what kind of impact could that have on SoFi's current corporate value?

In the final chapter, I would like to step into the world of numbers. Based on future projections for the stablecoin market, I will examine how large SoFiUSD could potentially become.

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