BRIDGING MOBILE MONEY TO GLOBAL FINANCE

S2.2 WITH FONBNK

We're diving deeper into our "Worldview of Stablecoins" series, exploring how different regions are adopting and adapting stablecoin technology to solve local challenges with fonfbnk.

This episode brings us to Africa, where an fascinating shift is happening: mobile phone credits, originally used as an inflation hedge, are becoming a bridge to global stablecoin adoption.

Hope right in to the episode with Chris Duffus below, or keep reading for the TLDR before watching.

THANK YOU TO MURAL PAY

Season 2 of stableminded is proudly supported by Mural Pay. Their vision for instant cross-border payments and commitment to transforming how money moves globally makes them the perfect partner for "A Worldview of Stablecoins."

Whether you're a business handling international payroll, managing cross-border settlements, or looking to streamline global payments, Mural Pay's platform makes it seamless.

_{DISCLAIMER: This podcast + newsletter is made in collaboration with Mural Pay and is therefore sponsored. All editorial decisions, opinions, and conclusions expressed are entirely those of our own and remain independent of any external influence.}

THE MOBILE MONEY REVOLUTION

When I think about creative approaches to stablecoin infrastructure, fonbnk stands out for one simple reason: they looked at what was already working (mobile money) rather than trying to force traditional Western financial systems into African markets.

Remember M-Pesa? Years ago, during high inflation, people in Kenya started using mobile credits as a store of value. It was, as Chris Duffus puts it, "the first instance of a type stablecoin." Today, fonbnk is taking that concept to the next level.

In this episode, Chris breaks down:

• Why card networks only reach 10% of Sub-Saharan Africa while mobile money reaches 90%

• How fonbnk bridges local mobile payment systems with global stablecoin networks

• Their expansion to 24 markets and vision for institutional adoption

• The $100B liquidity gap in African cross-border trade that stablecoins can help solve

What stands out most? The focus on working with existing infrastructure rather than against it.

Take the challenge of dollar access in these markets. Banks might limit conversions to $20 per month, if they allow them at all. Some countries have up to 100% spread between official and parallel market rates. The system is clearly broken.

BUILDING THE FUTURE OF
EMERGING MARKET INFRA

Instead of building another traditional payment rail, fonbnk created a network that connects local mobile payment providers with global stablecoin liquidity. It's like Airbnb for payment liquidity – matching local providers with global demand in a way that benefits everyone.

The timing couldn't be better.

As Chris notes, "I don't think we're bullish enough" on stablecoins' potential in emerging markets. While the West has numerous alternatives for moving money, most of the world doesn't. Stablecoins aren't just another option in Africa – they're often the only viable solution for accessing the global digital economy.

What excites me most about fonbnk? They're taking all the complexity of bridging local mobile payments with global stablecoin networks and packaging it into infrastructure that other companies can build on.

Watch the full episode with fonbnk on Youtube and Spotify

Follow fonbnk on X: @fonbnk1
Follow Chris on Linkedin
Visit their website at fonbnk.com

COMING UP FROM
STABLE STUDIOS

• If you ordered a stable society hoodie, be on the lookout for it in the coming weeks

• Working on building the stableminded directory

• Planning to head out to ETH Denver

• Onboarding clients + building out team for Stable Studios GTM side of things

• Starting to film and schedule guests for Season 3 of stableminded, stablecoins x defi

• Releasing 5 more episodes for season 2

If you want to chat about any of the above, just respond to this email. We’d love to hear from you!

Stay Stable,

Drew and Zach