Software crosses borders effortlessly. The globalization of money, however, is considerably more challenging. This is especially true for multinational businesses, which grapple with managing multiple accounts in diverse currencies, navigating costly foreign exchange rates, and unpredictable money transfers.
As businesses increasingly embrace a global default, top fintech entrepreneurs are rising to the challenge, addressing cross-border infrastructure issues and offering comprehensive solutions.
In this episode, a16z partners Angela Strange, Joe Schmidt, and Gabriel Vasquez discuss the challenges of cross-border payment infrastructures and what fintech entrepreneurs are doing to create a more integrated, financially inclusive world.
00:00 – Software crosses borders easily; money does not.
03:02 – Why has global payments been a challenge for so long?
05:44 – How global payments and money currently moves
07:25 – The metrics used to measure a country’s financial health
12:13 – The impact of regulation on financial services
16:23 – Can the same regulations be applied to any country?
21:29 – Why each country has its own fintech system
24:54 – Opportunities in global payments infrastructure
34:47 – Advice for founders navigating global fintech systems
36:58 – What does a truly global system enable?
Read the Fintech Fuels Global Payments package: https://a16z.com/global-payments
Watch ’Foreign Exchange 101: What Happens When You Send Money Abroad?’: https://youtu.be/eoXdyO9oGJc?feature=shared
Find Angela on Twitter: https://twitter.com/astrange
Find Joe Schmidt on Twitter: https://twitter.com/joeschmidtiv
FInd Gabriel Vasquez on Twitter: https://twitter.com/GEVS94
Angela Strange is a general partner at Andreessen Horowitz, where she focuses on financial services including fintech infrastructure, insurance, real estate, and increasing financial inclusivity.
Joe Schmidt is a partner at Andreessen Horowitz, where he focuses on fintech and insurtech.
Gabriel Vasquez is a partner at Andreessen Horowitz, where he focuses on fintech investments in Latin America.
The a16z Podcast discusses the most important ideas within technology with the people building it. Each episode aims to put listeners ahead of the curve, covering topics like AI, energy, genomics, space, and more.