Too many analogies on product, stablecoins, startups, history and animals.
The real upside is on physics
2026 is the year of water stocks
Annual Letter (I guess?)
TLDR; The Capa team thanks you all for your continued support in 2025. This year was about proving that stablecoin FX and payments is no longer a theory, sharing some grounded thoughts on where payments and stablecoins are actually heading, and paving out what comes next for Capa.Dear friends and supporters of Capa (CaPanas),This first annual letter is intentionally light on flexing and heavy on thinking. Not because 2025 lacked numbers, but because it marked a shift in how stablecoins are ac...
Annual Letter (I guess?)
TLDR; The Capa team thanks you all for your continued support in 2025. This year was about proving that stablecoin FX and payments is no longer a theory, sharing some grounded thoughts on where payments and stablecoins are actually heading, and paving out what comes next for Capa.Dear friends and supporters of Capa (CaPanas),This first annual letter is intentionally light on flexing and heavy on thinking. Not because 2025 lacked numbers, but because it marked a shift in how stablecoins are ac...
Your payments still run on a program from 1994
Fintech loves to pretend the world is running on modern infrastructure. Founders talk about APIs, real time rails, cloud cores, and digital transformation as if the old world politely powered down before the new one came online. Meanwhile, a huge portion of emerging market money still moves through systems shaped by FoxPro, a 1990s database language that Microsoft buried while half this industry was still in diapers. People do not like admitting this because it ruins the aesthetic. But the re...
Your payments still run on a program from 1994
Fintech loves to pretend the world is running on modern infrastructure. Founders talk about APIs, real time rails, cloud cores, and digital transformation as if the old world politely powered down before the new one came online. Meanwhile, a huge portion of emerging market money still moves through systems shaped by FoxPro, a 1990s database language that Microsoft buried while half this industry was still in diapers. People do not like admitting this because it ruins the aesthetic. But the re...
Where liquidity goes when the speculators go home
Format is changing today as we don't require any subtitles to express our ideas
Where liquidity goes when the speculators go home
Format is changing today as we don't require any subtitles to express our ideas
Easy ideas are always hard
Tail risk markets, being clever and stories about stablecoin scale
Easy ideas are always hard
Tail risk markets, being clever and stories about stablecoin scale
