People prefer to hold their dollars where most of their net worth is located.

A lot of people now, especially younger people and crypto-native people, most of their net worth is on-chain.

And so things that interact with assets on-chain, whether it's Ethereum, Bitcoin, it's stable-coins.

You need stable-coins to actually interact with these things.

It's a hassle to move it over to bank.

Some people just only off board, right, stable coins to banks because they need to spend stuff, right?

But then the neobanking stuff, like you said, fixes that problem. The situation will reverse.

People will be like, why would I bring my cash back to a bank, right? And it'll be the opposite where right now it's like, why would I bring my cash into stable coins? What can I do with it? But it's actually the opposite of most of your stuff is here on chain, right?

Bankless Nation, we're talking about neo banking today here on the podcast. This has been a word, all of a sudden, neobanking and neobanks has just cropped up across crypto-tweater, across crypto, all of a sudden, for some reason. We got Sam Casmanian from Frax to come on the show today and talk to us about neobanking, and while all of a sudden, crypto's focused on neobanking, Sam, welcome back to bankless. Always happy to be back. Maybe we can just start by defining things. What's a neobank? And why are we talking about them all of a sudden? Yeah, I mean, it's funny because they weren't at all a part of, like, crypto, Right. Neobanks are basically just things like Mercury Revolut, right? Some people or startups might use them. They're like a bank wrapper, right? Like if you think of what a lot of AI companies are, they're chat GPT wrappers, right? They don't actually do the foundational model. Same thing with banks, right? Neobanks are like this wrapper. They have better fintech applications,

easier stuff to wire rather than the crazy paste,

the I-band number, all this stuff.

Like a utility extension of a bank.

So a bank does that has the licenses,

but banks are just terrible U.S.

and terrible innovators.

And maybe the neobank doesn't have the licenses, but they just wrap on top of the bank and then do more things.

Is that right?

Exactly.

And a lot of people always said crypto is super confusing to use.

So when can my grandma use it?

When can my friends that don't know anything about private keys use it?

And like, here's the,

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