Original Article Title: Building Permissionless Neobanks
Original Author: @0xfishylosopher
Translation: Peggy, BlockBeats

Editor’s Note: Ten years ago, financial technology neobanks improved the banking user experience through mobile apps, but did not change the underlying system of fund movement. Today, cryptographic technology is attempting to touch deeper transformative changes, restructuring “how money flows”.

This article starts from the four dimensions of “Store, Spend, Grow, Borrow”, outlining the development path and competitive landscape of cryptographic neobanks: from self-custodial wallets and stablecoin payments, to on-chain transactions, lending, and yield mechanisms. The author, Jay Yu (member of the Pantera Capital research…