Generally Happy. Founder @bettermoney_co | prev: investor @a16zcrypto, MIT, eng @Microsoft
NYC
Joined January 2018
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Well, stablecoin expert was short lived. We're building @bettermoney_co and it's been a long time coming.
We're hiring across the board - especially engineers with payments, ledgering, and distributed systems experience. DM me if you want to build better money.
ALT Sam Broner leaves a16z to become a stablecoin expert, with recent news highlighting his new role and the company's hiring efforts.
Reporting from the bullpen, @LayneHaber just described her agents as "my boys". New fave.
Went analog this morning summarizing months of customer calls...
Four Reasons Our Customers are Launching Stablecoins
1. Control: Own the rails. Own the store of value. Own the economics.
2. Cyber: The word banks use for security. Freezing matters.
3. Compliance: Choose who you work with. Protect your back.
4. Tech: Store of Value + Payment Rail + Programmability = Better Products
5? Brand is good! But it's a proxy for control and ownership. Customers want to see $$$$
ALT Hand written note that outlines four reasons for launching stablecoins, emphasizing control, security, compliance, technology, and, maybe, brand.
NYC and New Jersey use both pronunciations. A few comptrollers growing up used the P.
Spitzer as a candidate started with p then moved towards the national pronunciation — I remember someone joking it was probably because he was already considering a presidential run.
APPARENTLY "COMPTROLLER" is PRONOUNCED IDENTICALLY TO "CONTROLLER"? WHAT THE FUCK? I'M GONNA HURT MYSELF AND OTHERS
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Had a fantastic dinner in Cambridge with good friends and students from MIT, Harvard, Dorm Room Fund, and the startup community!
Boston 🤝 Better Money
Build baby build!
ALT Sam & Elliot with students eating pizza at Area Four
This was a pretty good tweet. Basically the case for custom stablecoin issuers. Really big problem for the banks too -- they do NOT want their money to ever be perceived as being worth anything more or less than $1.000000
One stablecoin v fiat difference that trips up outsiders...
In trad payments, you initiate a tx through your TMS and it happens. You see failure, in prog & success states, *because* you have a tx team at the bank *attempting* to route the tx successfully.
With stablecoins, especially with self-custodial wallets, this is not true. You have to manage your treasury actively and preemptively. Compatibility has to be managed on the edge. The treasurer doesn't just have to check, do I know their address? But also, can they accept or understand what I'm sending them? Do I have the type of dollar they want?
This treasury / routing / transaction lifecycle management problem obviously gets (combinatorially!) harder with more chains, stablecoins, deposit tokens, etc. If you want payments to settle fast, you have to have efficient operations for knowing and having or getting the right stablecoin for the recipient.
"You don't sell Bank of America dollars to buy Wells Fargo dollars, you transfer them at par!". That's been my tagline for about 3 years now...
Well, @AdamZuck13 gets deeper into the weeds on *how* and *why* stablecoins must be a par instrument, plus how @bettermoney_co helps.
People hold money in thousands of banks, neobanks, and payment platforms in the US, but the value of your dollar doesn’t change depending on where you hold your money. That’s singleness.
Stablecoins don’t have it yet. Converting between one dollar stablecoin to another today typically happens via exchanges, AMMs, or OTC desks. That introduces slippage, a market-driven cost that’s variable and hard to predict, on top of ordinary fees.
In our latest post, our co-founder @AdamZuck13 covers how fiat built singleness, where stablecoins still fall short, and the clearing infrastructure that closes the gap: bettermoney.com/insights/sta…
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One of my favorite sales motions at The Better Money Company is when we start by working with the treasury team, then they introduce us to the product team.
Turns out Better Money helps you make better products and simplifies your back office!
One stablecoin misconception... stablecoin payments don't *really* make market cap grow. Trading & holding do.
If you use stables for payments, market cap is a pretty terrible metric for success. Better to think about stablecoins as a better rail and evaluate your bottom line.
Welcome to the TBMC Console. This was a great launch and a key expansion of our product!
For a while we had everyone using the clearinghouse via API, but as more partners started using TBMC in their middle and back office, we had to make their experience great as well!
Check out Auto Routes, the new sandbox, incremental onboarding, and some developer/agent experience improvements (couldn't help myself!)
Say hello to the TBMC Console!
Send, receive, and convert stablecoins, test in a real-money sandbox, and see your whole account in one place. Built for treasury and operations teams, and for developers who want to get hands-on from day one. Here's what's inside:
⚡️Instant or Standard settlement for payments and conversions
🔃Auto Routes: one deposit address that converts any supported stablecoin automatically
💡Test funds faucet: TBMC provides real USDC for you to test
💻Your account, wallets, and orders in one view
and more!
I need a less embarrassing way to say "I asked my agent to do it"
Considering...
1. I'm doing it now → shows ownership of the tool and outcome
2. Kicked it off → passive voice, evades responsibility for input & outcome
3. My agent is working on it → delegating, in the loop on outcome
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When GOAT+?
Great to be recognized and just getting started.
Stablecoin Payments Tier List
GOAT+ ( @Stablecoin, @BVNKFinance, @raincards, @0xPolygon )
GOAT ( @zerohashx, @wirexapp, @oobit, @FlexSuperApp, @bettermoney_co )
Perfect ( @gnosispay, @tazapay, @ether_fi, @blindpay, @FireblocksHQ )
Good ( @jeeves_inc, @avici, @BitgetWallet, @0xinfini, @KoloHub )
Underrated ( @conkarta, @coca_card, @yellowcard_app, @mural_pay, @monerium )
Overrated ( @Stable, @Plasma, @meshpay, @MetaMask, @phantom )
Based on my own analysis. Not financial advice!
Agents badly need local-first software with sync, deep ACLs, merge requests, version history, clean component models, and strong typing... shame we never built all that.
Fun to work on this with the Notabene team.
1. Payer uses the stablecoin they have
2. Receiver gets the stablecoin they need
Simple. Better! Done.
Your business holds $USDC, and a vendor invoices you in $RLUSD. Now what?
Today that mismatch sits in the middle of your payment: go to an exchange or OTC desk, sell your USDC, buy RLUSD, eat the slippage and fees, wait for it to settle, maybe bridge chains, and then finally pay the invoice.
All of that to move from a dollar to a dollar.
Together with @notabene_id, we’re removing this complexity. Notabene Flow orchestrates the invoice payment, the TBMC clearinghouse converts between stablecoins with no slippage, 1:1, and with predictable timing. You pay in what you hold, your vendor receives what they want, and you never think about the step in between.
First payment through the integration? Our own invoice. We’re a Notabene customer, so we paid them through Flow with the TBMC clearinghouse handling conversion.
Watch @SamBroner and @na_alice make the payment live:
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I kinda want all my work to be in a tinder interface?
Yes, No, Message, Scroll... maybe a voice over mode to inform follow ups.
Faster, cheaper, stablecoin payments using tokenized collateral
Excited for this proof of concept! Clearing between stables is more efficient using tokenized collateral.
Institutions can now settle on @Lynq_Network in minutes and end up in the stablecoin they need through the TBMC clearinghouse.
And, TBMC customers can benefit from faster settlement with TBMC using Lynq settlement under the hood.
This is phase one, and we’re looking forward to building more with the Lynq team 🤝
My great great grandfather used to turn off the lights in his hat store between customers to save money.
My grandfather, his grandson, would get into arguments with him by taking turns yanking the chain of the light switch. (He thought the dark store kept customers away)
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