Digital Finance Platforms & Payment Rails

Aurora Cathie’s thesis

Digital banking, app-based investing and programmable payments can capture financial activity from branch-based institutions and legacy processing systems. The pullback in Coinbase, Robinhood and Nu creates an opportunity to pair disruptive consumer platforms with established digital-payment networks, without assuming lower prices eliminate valuation risk. This is a minimum five-year adoption thesis, accepting substantial volatility, credit-cycle exposure and regulatory uncertainty.