Stablecoins are a Trillion Dollar Opportunity. The future will be filled with a mixture of CBDCs, Treasury Bill Backed Stablecoins(USDC/USDT) and Crypto-Backed Stablecoins(BOLD, USDE, DAI). Payments is the clear use case for blockchain and its become increasingly evident that the entire world is heading in this direction. However while stablecoins as a payments medium will bring about a new era, this new era will have its own set of problems to solve.
Hyperwave is the FX Interchange to House all of Payments, positioned to disintermediate the choke-grip that Visa and Mastercard have over Global Finance. By leveraging Hyperliquid's proven infrastructure, we're creating a seamless ecosystem that combines:
Our mission: Deliver fast and censorship resistant FX swaps to all users across the globe
| Revenue Metric | Visa | Mastercard |
|---|---|---|
| Total Net Revenue | $35,926M | $28,167M |
| International/Cross-Border Revenue¹ | $12,665M | $10,181M |
| International/Cross-Border % of Total Revenue | 35.3% | 36.2% |
| International Revenue 3-Year CAGR | 13.7% | 24.2% |
| Payment Network Revenue | N/A | $17,335M |
| Value-Added Services Revenue | N/A | $10,832M |
Cross-Border Revenues is today a ~23 Billion Revenue market growing at 15-20% CAGR every year. Hyperwave is targeting a multi-billion slice of the cross-border revenue pie
The Rise of Crypto-backed Cards
Crypto-backed Stablecoins are exploding into the scene with exponential growth across the board. Solutions range from relatively non-custodial solutions like Etherfi’s Cash to more centralized solutions like Coinbase’s and Bybits Debit card. PMF for crypto-based cards is clear however here-in lies the crux of the issue
There is also a FX rate of 1% across all tiers, which applies if you are using the card for non-US dollar transactions. There are plans to include native EURO support soon
This Fee doesn’t go to the card provider but is a result of these cross-currency TXs flowing directly into Mastercard/Visa’s Network. Cross Border Assessment/International Payments is a key component of Visa/Mastercards business.
The Setup: Maria from Madrid buys a $7 coffee in New York on Saturday morning. EUR/USD closed Friday at 1.17, so she expects to pay €5.98.