i help ⭐️’s get credit @cr3dentials ex: @Ethereumfndn
New York, NY
Joined September 2013
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Sign up here if you are a neobank/fintech interested in participating: bit.ly/4h7Mwie
Announcing our strategic lending partnership with @tradevu_co
Tradevu will provide credit facilities to neobanks in the Cr3dentials network, worth $1,000,000 with each neobank scaling up to $200,000.
Every facility is gated on Cr3dentials verification and monitored through repayment.
Elo retweeted
This morning at @Nasdaq 💛
@odagius will ring the Opening Bell for @BNBStandard, with @cz_binance, @ellazhang516, the YZi Labs team and our community celebrating with him.
Livestream starts at 9:15am ET. Bell at 9:30am 👉 nasdaq.com/marketsite/bell-r…
See you Monday, Nasdaq. 🔔
BNB Standard $BNC rings the @Nasdaq Opening Bell on Oct. 26 at 9:30 a.m. ET, live from Times Square.
Tune in starting at 9:15 a.m. ET 👇
bit.ly/46niMcy
@NasdaqExchange
I became a founder because I followed my heart. It made me break traditions and lose relationships, and it’s the most pain I’ve ever felt. My stomach churns every day, but I’ve never felt more alive.
This is war, and I have no regrets whichever way it goes.
Ben Horowitz's message to early-stage founders on betting on yourself, the doubts that do the most damage, and why fear means you're doing it right:
"Your job is to make your bet pay off. You believed in yourself enough to do it. There are gonna be many times when you question that bet and you question that belief, but that gets you nothing."
"The doubts are gonna be there. Ignore the doubts. The worst doubts aren't the ones people put on you. It's the ones that you put on yourself. Every entrepreneur has them."
"I spent a lot of time with Mark Zuckerberg when he was 22 years old and he had a tremendous doubt about whether he was gonna make it."
"It's not what you feel. It's what you do. You're gonna feel scared. If your guts aren't boiling, you're not even trying at this thing."
@bhorowitz w/ @speedrun GP @andrewchen
Elo retweeted
Dear algorithm,
Show this post to everyone who:
→ Earns through Uber, YouTube, OnlyFans, Shopify, or other online platforms
→ Is tired of being denied credit because they don’t have a traditional job
→ Wants their income and financial history to count when applying for loans
→ Believes access to credit shouldn’t depend on where you work
They need Cr3dentials.
Elo retweeted
Before the invention of credit scores, credit applications could take more than a month.
They needed to constantly pass through humans who could be vulnerable and inconsistent, as different individuals judged applicants based on their own experiences.
Credit scores changed the game by giving every borrower a universal number that defines their creditworthiness.
With the advancement of the internet, we’ve had many verification layers that make things easier for lenders to access borrowers’ information without needing to verify everything manually.
In this article, we talk about these verification layers, e.g. @tryPortola, @cred_protocol, @Plaid, etc.
All these verification layers have segments they’re tailored for, but where we @Cr3dentials position ourselves is different.
We tend to go deeper into the borrower’s daily life: what they do every day, how consistently they get paid, any upcoming payments, how long they’ve been freelancing, how often they get paid, etc.
We don’t just focus on credit. We focus on the source of the money they’ll use to pay back the loan in the first place.
We try to incorporate as much data as we can get. We integrate credit bureau data to access people’s outstanding debts and neobank user data to understand more about the people we’re underwriting, among other data sources.
We also handle repayment, recourse, and even enforcement, becoming a full-stack credit underwriting engine.
Check out our latest article for more on this:
Elo retweeted
this is going to be a floodgate of crypto neobanks offering unsecured lending to their users.
this year alone, we’ve had many shutdowns and pivots, not because the card business isn’t booming or users aren’t coming in.
but because the business is unsustainable. they need to constantly incentivize users, and those users leave immediately when they stop getting incentivized.
With this, they finally went from the generic:
earn → spend → save
to:
earn → spend → save → credit
unlike the card business, where you’d need to constantly spend money on marketing and cashback to eventually earn interchange fees that are often less than 1%…
the money spent on cashback by crypto neobanks is actually positive for users, but it’s a net negative for the projects. the more money they burn to acquire users, the less they have left to spend.
the only thing you need with credit is to keep improving your underwriting and have customers pay you back.
you’ll keep getting more money in than you spend out as a project.
also, crypto neobanks nowadays have retention problems. offering credit can definitely help solve that problem.
customers who borrow money from an app tend to open it more often, and it gets even stronger when they start using it for most of their transactions to build a credit profile for future loans.
it turns one-time users into highly engaged customers.
but one of the reasons why projects don’t want to offer credit is that they’d have to start building the underwriting infrastructure from the ground up, so they could use that time on other product iteration.
that’s where @cr3dentials comes in. we handle everything for you in the background: the data, recourse, repayment, and even enforcement.
our system is live, and almost 5k verifications have passed through it since launch.
we’ve just had the first cohort of neobanks join our credit facility, where they can get up to $200k to lend to their customers.
with plans to extend it as time goes on, some of the top neobanks that joined the program include pulsar money, uglycash, littio, among others.
all you need to do is bring your users if you want to introduce credit to them. we handle all the heavy lifting you need to worry about.
credit is the last moat for neobanks. everything else can easily be replicated, subsidized, etc., but the users you lend to are the ones who stay with you.
happy to chat more if you’ve any questions. gn
Today, I’m extremely excited to announce @eldoradoio's first stablecoin-powered credit product, in partnership with @talamobile and powered by @tempo ! 🚀
Access to credit remains one of the biggest barriers to economic growth in Latin America. Millions of people are excluded from traditional lending simply because they lack the documentation, credit history, or collateral banks require.
We believe access to credit should be determined by your potential, not just your paperwork.
Starting in Bolivia, eligible El Dorado users will be able to open their wallets, access pre-qualified credit offers, and receive funds in seconds, directly in USDT.
Loans will be disbursed and repaid onchain through Tempo, with Tala providing the capital and taking on the credit risk.For us, this is about much more than launching another financial product.
Stablecoins shouldnt just make it easier to move money. They should unlock entirely new financial opportunities.
By combining El Dorados distribution with Talas lending infrastructure, were taking another step toward making financial services more accessible to millions of Latin Americans.
Our ambition is to build the financial infrastructure that accelerates economic growth across Latin America, and expanding access to credit is a fundamental part of that mission.
Special thanks to the rockstar team that made this partnership possible: @shivsiroya @0xskittles @Santiaestrada93 @andreujuanc @exk200 @teresagrandia @Crisaudy_ and many others
We're just getting started. 🌎
Neobanks make over 20x less revenue per customer than traditional banks.
A big reason why: credit.
Lending is where banks actually make money. Neobanks that crack it, like Nubank, close the gap.
Every top neobank: Revolut, Nubank, etc., has made so much by offering unsecured lending in different forms.
BNPL, personal loans, overdrafts to their users.
Crypto neobanks say they are competing with them, but in reality, they are competing for a few thousand users over cashback.
Imagine being the first to break the curse?
Elo retweeted
Every top neobank: Revolut, Nubank, etc., has made so much by offering unsecured lending in different forms.
BNPL, personal loans, overdrafts to their users.
Crypto neobanks say they are competing with them, but in reality, they are competing for a few thousand users over cashback.
Imagine being the first to break the curse?
Early cohorts in a lending program usually carry the highest default rates. As you lend, you learn which behaviors separate good borrowers from bad ones, and you refine your credit policy so you keep lending to people who pay back.
We're in that phase now, working to strike the right balance between approval rates and default rates.
An approval rate of 5% is bad UX for instance.
Bullish on agents buying paper towels. Bearish on agents buying anything with taste.
It will fuck around and buy something like this from Forever 21…
AI is helping Americans shop, but 42% don't trust it to make a purchase yet
Even in the most popular categories, only about a quarter would let AI choose and buy for them:
- 27% for clothing
- 26% for electronics
- 25% for travel
Charts of the Week: a16z.news/p/this-week-in-cha…
Honestly, I can't remember a single person who presented at our school career days.
Not because being a doctor, firefighter, or lawyer isn't cool. It's because every story was the same: go to school, get the degree, get the job.
What sticks with me is bold people doing unconventional things, going through real adversity, and coming out the other side.
Stories like this are inspirational.
A man got fired from his job, was unemployed for 10 months, watched his savings crash 75%, and somehow built one of crypto's biggest exchanges.
> In July 2017, Siemens laid off Hayden Adams, a 24-year-old mechanical engineer.
> He had no software engineering career to fall back on.
> His friend Karl Floersch told him Ethereum was the future and convinced him to learn smart contract development.
> Hayden spent two months learning to code.
> Then Karl showed him an idea from Vitalik Buterin about how people could trade tokens without a traditional exchange matching buyers and sellers.
> Hayden started building a prototype. Called it Uniswap.
> By April 2018, he'd been unemployed for 10 months and the crypto he was living on had lost over 75% of its value.
> Most people would've started looking for another job.
> Hayden booked a flight to South Korea to attend a crypto conference.
> He didn't even have a ticket to the event and was turned away at the entrance.
> Then he ran into Karl, who introduced him to Vitalik Buterin.
> Vitalik pulled out his phone and read Hayden's smart contract right there.
> He adviced him to apply for an Ethereum Foundation grant.
> Hayden applied and got the grant which was valued at around $100,000 on paper.
> After $ETH's price dropped, its actual value was closer to $55,000–$60,000.
> He kept building.
> On November 2, 2018, Uniswap launched on Ethereum.
> Today, it's one of the most important decentralized exchanges in crypto, allowing people to trade tokens without relying on a traditional centralized exchange.
A man lost his job, watched his savings collapse, and built one of crypto's biggest financial platforms.
Imagine if he'd just updated his CV and moved on.
Try and vibe code ZKTLS proofs.
Good luck ;)
Nobody will vibe code payroll.
Plenty of software will get replaced by AI agents over the next 10 or 15 years. You can imagine asking an agent to build some internal tool for your team instead of paying for another SaaS product. For a lot of those things, why not?
But payroll and payments are different. There's so much liability around getting people paid correctly, so many regulatory requirements and legal obligations, that you're still going to want a specialized company handling it. The moat for those AI products is the risk of getting the complexity right.
And I think there are quite a few categories of software like this, where you might interact with everything through an AI assistant, but there's still specialized software underneath doing the work. Because it's hard. Because it's risky. Because there are regulations.
I'm just not sure how much of the software market has that kind of protection. But if you have it, you're good!
Elo retweeted
TradFi neobanks went from:
Deposit & savings → Cards → FX (cross-border) → Payments
To:
Secured and unsecured lending → Wealth advisory → Insurance → Investing and trading → Subscriptions
Crypto neobanks are still in stage 1, fighting over a few thousand users with cashback.
We @Cr3dentials help them get to stage 2 by offering unsecured lending.
🤖 Made with AI
Elo retweeted
Airbnb is now live on @Cr3dentials.
Airbnb hosts have made over $400B since inception, yet traditional finance still struggles to recognize them as working-class because they don’t have a W-2.
They earn real income, too.
We make that income visible to lenders, giving them access to the same credit opportunities as traditional workers.
Shipping nonstop!
Airbnb is now live on @Cr3dentials.
Airbnb hosts have made over $400B since inception, yet traditional finance still struggles to recognize them as working-class because they don’t have a W-2.
They earn real income, too.
We make that income visible to lenders, giving them access to the same credit opportunities as traditional workers.
Credit isn’t a moat by itself. The moat is cheap cost of capital, data with real repayment outcomes, and control over repayment.
Get those right and short tenor loans let you turn the same capital 10+ times a year. Get them wrong and you compound losses just as fast.
